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The U.S. Supreme Court has declined to hear an appeal from Binance and its founder, Changpeng Zhao, allowing a class action lawsuit to proceed. The lawsuit accuses the cryptocurrency exchange of illegally selling unregistered tokens that subsequently lost significant value. The Court's ruling affirms that U.S. securities laws apply, as the token purchases were completed within the United States. This decision marks a critical moment for Binance, the world's largest cryptocurrency exchange, as it faces allegations regarding the legality of its token sales.
BINANCE GETS THE BAD NEWS: SUPREME COURT DUNKS APPEAL Binance thought they could dodge the class action, but the Supreme Court’s like, “not today!” Investors are ready to prove they got scammed when Binance sold off assets that just dropped in value. CZ and the company tried… https://t.co/EdmBEmggyF
BINANCE MUST FACE CLASS ACTION AFTER SUPREME COURT DENIES APPEAL Binance’s attempt to quash the class action lawsuit was rejected by the U.S. Supreme Court, allowing the case to move forward. Investors allege that Binance sold assets as investment contracts which later lost… https://t.co/RABqD4Dexe
🚨 JUST IN: The US Supreme Court rejects Binance and CZ’s appeal, allowing a lawsuit by investors alleging illegal sales of unregistered tokens to proceed. The Court ruled that US securities laws apply as token purchases were completed in the US https://t.co/9nlw1RZsvA
