Another law firm has launched a legal battle against the crypto platform after the US Commodity and Futures Trading Commission CFTC filed a lawsuit against Binance, the largest cryptocurrency exchange by trading volume, and its founder Changpeng Zhao within the week.
According to the news published in Fortune, Moscowitz Law Firm and Boies Schiller Flexner; He accused Binance and CZ of buying and selling unregistered securities, and three crypto influencers of receiving illegal advertising from the exchange.
The law firm is seeking $1 billion in compensation from the giant stock market with a compensation lawsuit it filed in Florida. The source claimed that the influencers in question are NBA star Jimmy Butler and have two different crypto Youtube channels.
“We have been investigating the same unregistered security issues against Binance for over a year. Supporters and exchanges that facilitate trading of such assets are fully liable for customer losses.”
Moscowitz Law Firm has previously targeted other exchanges. The bureau filed a lawsuit, claiming that the previously bankrupt crypto platform Voyager was also fully liable for customer losses.
