A category-action go well with was filed towards Binance.US and Binance CEO Changpeng Zhao on Oct. 2 within the District Courtroom of Northern California alleging numerous violations of federal and California legislation on unfair competitors for making an attempt to monopolize the cryptocurrency market by harming its competitor FTX. The go well with was introduced by Nir Lahav, who’s recognized solely as a California resident.
At concern are posts made by Zhao on Twitter (now X) in early November on the eve of FTX’s collapse. The posts have been made at the side of the choice by the defendants to liquidate their holdings within the FTX utility token FTT on Nov. 6. The plaintiffs estimated that Binance owned as much as 5% of all FTT tokens.
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