The U.S. Court of Appeals partially overturned the dismissal of a class action lawsuit filed against Binance.US that accused the exchange of illegally manipulating the price of HEX tokens. A three-judge panel of the Ninth Circuit Court of Appeals overturned the district court's earlier dismissal of the class action, saying plaintiff Ryan Cox's claims against Binance.US and CoinMarketCap were reasonable.
Cox first filed a class action lawsuit in 2021, alleging that Binance Capital Management and Binance.US artificially limited HEX's ranking on CoinMarketCap, a cryptocurrency price tracking platform owned by Binance. Cox claimed that this resulted in HEX trading at a lower price and ranking higher on Binance's own cryptocurrency. In February 2023, a district court judge first dismissed the lawsuit, finding that Cox failed to establish any specific link between specific activities in Arizona and Binance.US that could link Binance.US to manipulation of HEX.
US appeals court reopens HEX manipulation case against Binance.US
2024-08-13 06:39:41
United States appellate court partial overturn binance us fileddesk3cryptocurrencydesktopCrypto News
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