{"id":292137,"date":"2021-07-06T20:31:03","date_gmt":"2021-07-06T17:31:03","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/class-action-lawsuit-against-binance-targets-exchanges-futures-trading\/"},"modified":"2021-07-06T20:31:03","modified_gmt":"2021-07-06T17:31:03","slug":"class-action-lawsuit-against-binance-targets-exchanges-futures-trading","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/class-action-lawsuit-against-binance-targets-exchanges-futures-trading\/","title":{"rendered":"# Class action lawsuit against Binance targets exchange&#8217;s futures trading"},"content":{"rendered":"<p>&#8220;<strong># Class action lawsuit against Binance targets exchange&#8217;s futures trading  <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvMWRhYWE2NWUtOWRkMy00NDQzLWFiZmYtMzU3ZGNkMWZmMDZlLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>A group of Italian and international investors have filed a class action suit against major crypto exchange Binance, alleging the firm violated its own rules on futures trading.<\/p>\n<p>In a Tuesday announcement, Italy-based legal and consulting firm Lexia LEXIA Avvocati <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/tokenclassaction.it\/en\/token\/lawsuit-against-binance-to-recover-damages-suffered-by-investors-on-binance-futures-platform\/\">said<\/a> it would be taking legal action against Binance to recover damages from trades on the crypto exchange\u2019s futures platform. On behalf of a group of investors, the company and the Swiss Blockchain Consortium allege Binance breached its rules on crypto derivatives trading and the platform did not function properly at certain peak trading times. <\/p>\n<p>According to local <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> outlet Milano Finanza, the lawsuit is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.milanofinanza.it\/news\/una-class-action-contro-binance-2525529\">centered<\/a> around the crypto exchange going offline for several hours on different days \u2014 such as on Feb. 8, when Elon Musk announced Tesla had purchased $1.5 billion in Bitcoin (BTC). The investors in the class action suit allege they lost \u201ctens of millions\u201d of dollars due to not being able to manage their trading positions and view their balances. They also claim similar outages on Apr. 18, May 5, May 19, May 28, and June 4 were grounds for compensation. <\/p>\n<p>Though Binance did reportedly allow users affected by the outages to request compensation, Lexia said the exchange was offering a \u201cpitiful amount\u201d for its clients, who refused the \u201claughable\u201d proposal. The law firm said the investors would be willing to dismiss the lawsuit if Binance were to <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ropriately compensate them before July 12, also warning it would seek regulatory restrictions for the exchange in the European Union and Switzerland.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Recent Class Action Lawsuit Could Cost Binance Billions of Dollars<\/em><\/strong><\/p>\n<p>The legal action comes amid Thailand\u2019s Securities and Exchange Commission and the Cayman Islands Monetary Authority recently announcing a regulatory crackdown on Binance for operating in their respective jurisdictions without a proper license. In March, news outlets reported the exchange may also be under investigation by the U.S. Commodity Futures Trading Commission regarding possible trades made by U.S.-based customers.<\/p>\n<p><em>Cointelegraph reached out to Lexia for comment, but did not receive a response at the time of publication. This story may be updated. <\/em><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/class-action-lawsuit-against-binance-targets-exchange-s-futures-trading\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Class action lawsuit against Binance targets exchange&#8217;s futures trading &#8221; A group of Italian and international investors have filed a class action suit against major crypto exchange Binance, alleging the firm violated its own rules on futures trading. In a Tuesday announcement, Italy-based legal and consulting firm Lexia LEXIA Avvocati said it would be&#8230;<\/p>\n","protected":false},"author":1,"featured_media":292138,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDcvMWRhYWE2NWUtOWRkMy00NDQzLWFiZmYtMzU3ZGNkMWZmMDZlLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74860,75846,71227,55229,70934,71407],"class_list":["post-292137","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-cryptocurrency-exchange","tag-futures","tag-italy","tag-law","tag-regulation","tag-trading"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/292137","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=292137"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/292137\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/292138"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=292137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=292137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=292137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}