Key Points:
Read more: Binance France Replaces Changpeng Zhao With New Shareholders Holding 50% Shares
Class representative lawyers asked a federal judge in Miami to sign off on the agreement Monday, which had been reached after months of serious talks aided by a mediator. The judge has scheduled a hearing to give the affected buyers an opportunity to object to the deal before sealing it off.
The lawsuit, filed last year, also named Binance and its co-founder Changpeng Zhao as defendants. According to the lawsuit, Miami Heat Jimmy Butler and Ben Armstrong, known as BitBoy Crypto, together with a crypto exchange, touted certain cryptocurrencies and tokens as unregistered securities in violation of US law, including Binance’s BNB token.
The case had previously been settled with the US government over anti-money laundering and sanctions violations, as well as the ability for Binance to stay in business under the terms.
Attorney for Armstrong, Darren Heitner, confirmed the settlement but wouldn’t comment further. Armstrong and Butler have denied wrongdoing in the case.
The Binance lawsuit follows a similar case where a federal judge ruled that ex-NBA star Shaquille O’Neal might be considered a seller of non-fungible tokens if allegations relating to their collapse are proven true.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing. |
Bitcoin's price rose 3% to $70,200, influenced by excitement surrounding the US presidential election.
NY, United States of America, 5th November 2024, Chainwire
This Coincu's article presents a curated list of the top DePIN crypto projects with airdrop…
Polymarket user identified only as "wallet mobile" has just made an astonishing bet of $10…
Binance CEO Richard Teng stated that Western companies will benefit most due to regulatory influence.
The Cyprus Securities and Exchange Commission announced that the Cypriot Investment Firm (CIF) FTX license…
This website uses cookies.