New Lawsuit Claims Solana Is Unregistered Security — ‘Investors Have Suffered...
A class-action lawsuit has been filed claiming that cryptocurrency solana (SOL) is an unregistered security under the Howey test. “The specific facts and circumstances relating to SOL securities support the conclusion that SOL is a security under the Howey test,” the plaintiff argued. Solana Is a Security, Lawsuit Claims A lawsuit, filed on July 1 in the U.S. District Court for the Northern District of California, claims that cryptocurrency solana (SOL) is an unregistered security. Lead plaintiff Mark Young, a California resident and SOL investor, is suing on behalf of....
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Plaintiffs claim that Solana’s SOL token is a centralized security with insiders profiting immensely while retail traders got rekt. Solana Labs is the latest crypto company to be hit with a lawsuit accusing it of promoting an unregistered security.The class action was filed on July 1 by Roche Freedman LLP and Schneider Wallace Cottrell Konecky in the district court for the northern district of California on behalf of plaintiff Mark Young, a state resident.The lawsuit accuses Solana Labs, the Solana Foundation, Anatoly Yakovenko, Multicoin Capital Management, Kyle Samani, and FalconX, of....
A U.S. district has rejected a lawsuit alleging that Bibox sold unregistered securities because the lead plaintiff last traded the tokens in question more than 12 months ago. A lawsuit accusing crypto exchange Bibox of selling six unregistered securities was thrown out of a U.S. District Court after Judge Denise Cote ruled the plaintiff had failed to file the complaint within 12 months of trading the tokens.Plaintiff Alexander Clifford filed the class-action complaint on June 3, 2020, seeking to recover investments he previously made into Bibox’s native BIX token, in addition to Eos (EOS),....
A class-action lawsuit has been filed against the Nasdaq-listed cryptocurrency exchange Coinbase alleging that the platform lets customers trade 79 cryptocurrencies that are unregistered securities, including XRP, dogecoin (DOGE), and shiba inu (SHIB).
Lawsuit Claims Coinbase Sold 79 Unregistered Crypto Securities to Customers
A class-action lawsuit was filed last week against Coinbase Global Inc., Coinbase Inc., and CEO Brian Armstrong.
Lead plaintiffs and Coinbase users Christopher Underwood, Louis Oberlander, and Henry Rodriguez allege that from Oct. 8, 2019, to....
The U.S. Securities and Exchange Commission (SEC) is reportedly investigating Binance’s BNB token, which could be an unregistered security. If the cryptocurrency is found to be a security, it could put Binance in a similar position to Ripple Labs which has been in an ongoing lawsuit with the SEC over the sale of the XRP token.
SEC Investigates Binance’s BNB Crypto
The U.S. SEC is investigating whether Binance Holdings Ltd. breached securities laws when it conducted an initial coin offering (ICO) of the BNB token five years ago, Bloomberg reported Monday, citing....
XRP has seen some incredibly bearish price action as of late, with the selling pressure seen over the past 48 hours coming about due to news surrounding the SEC’s lawsuit against Ripple – the San Francisco-based FinTech startup that is closely tied to the cryptocurrency. The lawsuit claims that XRP is an unregistered securities product […]