Binance CZ and Influencers Sued for $1 Billion Over Securities Promotion

Binance, the world’s largest cryptocurrency exchange, has been hit with a $1 billion lawsuit for promoting unregistered securities, alongside its CEO Changpeng “CZ” Zhao. A new lawsuit worth $1 billion has been filed against Binance, its CEO Changpeng Zhao (also known as CZ), and three cryptocurrency influencers. CZ, the exchange, and three influencers were named in a $1 billion lawsuit filed by the Moscowitz Law Firm and Boies Schiller Flexner.

Binance and its CEO CZ have been facing a lot of scrutiny lately. Just five days after Binance and its CEO Changpeng ‘CZ’ Zhao got sued by the United States Commodity Futures Trading Commission (CFTC) for alleged trading violations, a new $1 Billion...

The Allegations: Unregistered Securities and Influencer Promotion

The suit alleges Binance traded cryptocurrencies that are unregistered securities, and that influencers promoted them unlawfully. The lawsuit was filed in the... [State redacted for privacy], alleging that Binance, CZ, and associated influencers illegally promoted unregistered securities.

CFTC Scrutiny and the $1 Billion Lawsuit

Just a few days after the Commodity Futures Trading Commission (CFTC) slapped Binance with a heavily-publicized case, two law firms worked together to file a new $1 Billion suit. The US Commodity Futures Trading Commission (CFTC) recently filed...

This new lawsuit represents a significant escalation of the legal challenges facing Binance and CZ. The ramifications of this $1 billion lawsuit could have far-reaching consequences for the cryptocurrency exchange and the broader digital asset landscape. Stay tuned for further updates on this developing story.