Milan Finanza reported that Binance, the world’s largest cryptocurrency exchange, is facing a class action lawsuit from Italian law firm Lexia Avvocati and the Swiss Blockchain Consortium. On February 8, after Tesla and Elon Musk tweedollars, who bought $ 1.5 billion Bitcoin, the arrows are turned to Binance, as a group of futures traders from other countries were hurt by not reaching the stock market for several hours.
Elon Musk sues Binance for his series of tweedollar
In the crypto money markets, which started to shake with Elon Musk’s tweet, a large trader community, including Italy and other countries, is suing the stock market for not being able to log in to Binance during this fluctuating period. On February 8, when users did not log into the stock market, the markets were fluctuating with Elon Musk’s Twitter posts. Afterwards, users decided to sue the crypto exchange Binance, losing “tens of millions” of dollars.
Then, on February 23, Binance issued a notification regarding an issue with its futures system, inviting affected users to file a claim. With this offer, some of Lexia Avvocati’s customers have filed claims, while Binance has offered “ridiculous” compensation to these bids, and things have moved on to a broader medium. Some experts who closely follow the event have different claims on the subject. Details are as follows…
The events are linked to each other
In the continuation of the events, Lexia Avvocati claims that Tesla’s big Bitcoin bomb accompanied by Elon Musk is not an isolated incident. On May 19, the day Chinese financial regulators announced that banks and financial firms were banned from serving cryptocurrency customers, Binance’s trading systems were also suspended for a few saadollars. Similar events took place on April 18, May 5, May 28 and June 4. Additionally, avukadollarsar from Lexia Avvocati states that Binance is not authorized to offer its futures trading product in Europe under Directive 2014/65/EU.
Finally, the world’s largest crypto exchange has faced intense scrutiny from regulators around the world for the past few weeks, including a criminal complaint from Thailand’s SEC. Cryptocoin. com
As we reported , British banking giant Barclays blocked credit-debit card payments to Binance on Tuesday due to a recent notice issued by the Financial Conduct Authority.
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