Binance and CZ sued in London by 1,700 UK investors # >…
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Binance and CZ sued in London by 1,700 UK investors
# > Article except.
Almost 1,700 British investors are seeking at least £150 million, or about $200 million, from Binance and Changpeng Zhao, according to Reuters. **The case was filed in London’s High Court and names Binance Holdings, UAE-registered Nest Exchange, Zhao and “persons unknown” linked to the Binance trading platform.**
The claimants allege **Binance sold risky and complex crypto derivative products without the needed regulatory authorization.** They say the products included leveraged tokens, futures contracts and options, which can raise gains **but also deepen losses when markets move against traders.**
#cryptocurrency
# > Article except.
Almost 1,700 British investors are seeking at least £150 million, or about $200 million, from Binance and Changpeng Zhao, according to Reuters. **The case was filed in London’s High Court and names Binance Holdings, UAE-registered Nest Exchange, Zhao and “persons unknown” linked to the Binance trading platform.**
The claimants allege **Binance sold risky and complex crypto derivative products without the needed regulatory authorization.** They say the products included leveraged tokens, futures contracts and options, which can raise gains **but also deepen losses when markets move against traders.**
#cryptocurrency
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