The post BinanceUS Faces Class-Action Suit for Monopolizing Market! appeared first on Coinpedia Fintech News
BinanceUS and its CEO Changpeng Zhao, also known as CZ, have been hit with a class-action lawsuit filed on October 2 in the District Court of Northern California. The lawsuit accuses the cryptocurrency exchange and its CEO of attempting to dominate the market by harming their competitor FTX. The plaintiff believes that there are thousands of members in the proposed class. This suit adds to the list of legal problems faced by Binance as regulatory authorities increasingly scrutinize the cryptocurrency industry. BinanceUS has yet to comment on the allegations.
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