Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
US Court of Appeals Partially Overturns Binance.US Lawsuit Dismissal, HEX Token Manipulation Case Reopened

US Court of Appeals Partially Overturns Binance.US Lawsuit Dismissal, HEX Token Manipulation Case Reopened

CointimeCointime2024/08/13 07:30
By:Cointime

The US Court of Appeals recently partially overturned the dismissal of a collective lawsuit against Binance.US for alleged manipulation of HEX token prices. A panel of three judges from the Ninth Circuit Court of Appeals found that plaintiff Ryan Cox had legitimate reasons to accuse Binance.US and CoinMarketCap.Cox filed the lawsuit in 2021, alleging that Binance artificially restricted HEX's ranking on CoinMarketCap, leading to a decrease in HEX trading prices.The appeals court found that the district court's previous conclusion that "substantial minimum contacts with Arizona" were required was erroneous, and determined that the defendants within the United States had personal jurisdiction because they had sufficient contacts with the United States. The court also found Cox's price manipulation allegations reasonable and remanded the case for further proceedings.It is worth noting that Richard Heart, the founder of HEX token, was sued by the SEC on July 31, 2023, for violating federal securities laws and defrauding investors of at least $12.1 million. The SEC alleges that Heart used investor funds to purchase personal luxury items instead of token development and marketing.Currently, HEX's trading price is $0.004, down more than 99% from its historical high of $0.51 in September 2021.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!