Binance and influential persons: a class action

More bad class action lawsuits, more attacks on exchanges, more law firms trying to ride the wave of uncertainty created by the regulator itself. Just days after the CFTC filed its lawsuit against Binance, a private sector emerged to try to extract every possible financial benefit from Zhao Changpeng's exchange.
According to Fortune magazine, the Moscowitz Lw Firm and Boies Schiller Flexner, law firms that have generated some media attention in the United States, filed a class action lawsuit against Binance, CZ and a number of influential people and celebrities (such as Jimmy Butler of Miami Heat) Friday night.
They allegedly sold financial securities in the U.S. without any authorization, but that's more a matter for the SEC than the CFTC.

Binance: everyone wants their piece of the action

The U.S. legal system is often a hunting ground for vultures of all kinds. In the days following the near-death blow to the CFTC, a number of well-established law firms started popping up to try to get a piece of the accumulated funds from the CZ exchange as well.
These are the influential and well-known Moscowitz and Boies Schiller Flexner, who, according to Fortune magazine, filed a class action lawsuit, which will also affect some of the promoters of this exchange.
As Fortune itself recalls, this is a law firm that has filed a class action lawsuit against Voyager and FTX, specifically relating to celebrities and influencers who allegedly promoted the Sam Bankman-Fried exchange.
The allegations are that the cryptocurrencies they were selling were in fact safe, and that the influencers allegedly promoted these transactions in violation of Binance payments.
Needless to say, these are billions of dollars in damages for users who allegedly bought and sold securities without proper notice and law enforcement, which Gary Gensler used to wage war on the industry as a whole.
Under the class action itself, anyone who purchased such products would be entitled to compensation equal to the damages incurred.