{"id":462122,"date":"2022-06-13T15:38:46","date_gmt":"2022-06-13T12:38:46","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/binance-us-faces-class-action-lawsuit-over-luna-and-ust-sale\/"},"modified":"2022-06-13T15:38:46","modified_gmt":"2022-06-13T12:38:46","slug":"binance-us-faces-class-action-lawsuit-over-luna-and-ust-sale","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/binance-us-faces-class-action-lawsuit-over-luna-and-ust-sale\/","title":{"rendered":"# Binance.US faces class-action lawsuit over LUNA and UST sale"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3c3374973fd\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3c3374973fd\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/binance-us-faces-class-action-lawsuit-over-luna-and-ust-sale\/#%E2%80%9D_BinanceUS_faces_class-action_lawsuit_over_LUNA_and_UST_sale_%E2%80%9C\" >&#8221; Binance.US faces class-action lawsuit over LUNA and UST sale &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_BinanceUS_faces_class-action_lawsuit_over_LUNA_and_UST_sale_%E2%80%9C\"><\/span>&#8221; Binance.US faces class-action lawsuit over LUNA and UST sale &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-2a0745c6>Binance.US, the sister company of global cryptocurrency exchange Binance, is facing a class-action <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.docdroid.net\/zl5YX9G\/binance-us-luna-class-action-pdf\">lawsuit <\/a>from investors\u00a0for the sale of LUNA and TerraUSD (UST).<\/p>\n<p>A group of investors filed a class-action lawsuit in the Northern District of California on Monday, alleging that Binance sold unregistered securities in the form of LUNA and UST to investors and mislead them into buying them.<\/p>\n<p>The lawsuit was filed by law firms Roche Freedman and Dontzin Nagy &amp; Fleissig on behalf of several investors who lost their money during the recent LUNA and UST spiral collapse. <\/p>\n<p>The lawsuit alleged that Binance.US is not registered as a broker-dealer in the United States and thus clearly violates U.S. securities laws. The plaintiffs in the case accused the crypto exchange of knowingly promoting a flawed project in which the parent company had invested earlier.<\/p>\n<p>The lawsuit filing pointed out that the crypto exchange not only supported and promoted a security token, but its parent company also listed the second version of LUNA 2.0 after the failure of the first. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Binance ends support for anonymous Litecoin transaction<\/em><\/strong><\/p>\n<p>The lawsuit also accused the crypto exchange of false advertising, pointing towards their claims of UST being fiat backed, which has been redacted after the collapse.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2022-06\/84ca2c04-0fe1-416b-8d26-710bcf2f3f9c.png\"><\/figure>\n<p>An excerpt from the lawsuit read:<\/p>\n<blockquote><p>\u201cBinance U.S.\u2019s failure to comply with the securities laws, and its false advertisements of UST, have led to disastrous consequences for Binance U.S.\u2019s customers.\u201d<\/p><\/blockquote>\n<p>The plaintiffs in the case have demanded a trial by jury for all charges that are deemed trialable. Binance didn&#8217;t respond to Cointelegraph&#8217;s request for comments at press time.<\/p>\n<p>Kyle Roche, founder of Roche Freedman had earlier requested LUNA investors to contact the firm in case they bought LUNA on any of the leading crypto exchanges in the U.S. Thus, the lawsuit against Binance could be the first of many.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">If you purchased <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24LUNA&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$LUNA<\/a> or <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=%24UST&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$UST<\/a> on either <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/coinbase?ref_src=twsrc%5Etfw\">@coinbase<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/krakenfx?ref_src=twsrc%5Etfw\">@krakenfx<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/binance?ref_src=twsrc%5Etfw\">@binance<\/a> or <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Gemini?ref_src=twsrc%5Etfw\">@Gemini<\/a>, please reach out to TerraRecovery@rochefreedman.com . My firm is coordinating an effort to help those who lost funds from the recent collapse of <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/terra?src=hash&amp;ref_src=twsrc%5Etfw\">#terra<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/luna?src=hash&amp;ref_src=twsrc%5Etfw\">#luna<\/a>.<\/p>\n<p>\u2014 Kyle Roche (@KyleWRoche) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/KyleWRoche\/status\/1525079906832482304?ref_src=twsrc%5Etfw\">May 13, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>While investors in S.Korea filed a lawsuit against the founders of the LUNA project the same week it tanked, the latest case against Binance.US is the first in America. Looking at the earlier tweet of the law firm involved in the lawsuit, other U.S.-registered crypto exchanges might face similar lawsuits in the near future.<\/p>\n<p>Binance\u2019s legal trouble continues to mount in the U.S. as the lawsuit comes at a time when the SEC is already investigating its BNB ICO from 2017.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/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 <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> 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\/binance-us-faces-class-action-lawsuit-over-luna-and-ust-sale\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Binance.US faces class-action lawsuit over LUNA and UST sale &#8220; Binance.US, the sister company of global cryptocurrency exchange Binance, is facing a class-action lawsuit from investors\u00a0for the sale of LUNA and TerraUSD (UST). A group of investors filed a class-action lawsuit in the Northern District of California on Monday, alleging that Binance sold unregistered&#8230;<\/p>\n","protected":false},"author":1,"featured_media":462123,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDYvODUzMmU5M2YtYzQ5Mi00NGMwLWJjMDItZTI4MGQ4ZTc1MzU4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75014,74863,122378,70934],"class_list":["post-462122","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance","tag-cryptocurrencies","tag-terra","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462122","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=462122"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/462122\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/462123"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=462122"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=462122"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=462122"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}