LUNA UST Investors Have Filed a Class Action Lawsuit Against Binance US!

A new class action complaint filed against the largest cryptocurrency exchange's US branch accuses it of illegally facilitating the sale of unregistered securities. According to the lawsuit, "Binance US's business model is based on illegally facilitating the sale of unregistered securities to as many US investors as possible, as often as possible." This is due to the fact that the exchange listed and began trading UST in the middle of April, despite the fact that the contentious stablecoin was an unregistered security. The complaint also claimed that the exchange participated in UST direction promotions by airdropping free tokens to encourage trade volumes. Dontzin Nagy and Fleissig and Roche Freedman filed the complaint in the Northern District of California on Monday.