Anna Martynova

On April 3, 11 lawsuits were filed against 7 crypto companies in the New York Federal Court. All lawsuits were filed by Roche Cyrulnik Freedman, a law firm that filed a trillion dollar lawsuit against Tether Limited and represented the estate of the late Dave Kleiman in the ongoing dispute with Craig Wright.

11 lawsuits are targeted to the well-known names and companies, including cryptocurrency exchanges Binance, KuCoin, BiBox, BitMex, the parent company HDR Global Trading Limited and the alleged crypto issuers Block.one, Quantstamp, KayDex, Civic, BProtocol, Status and Tron Foundation, as well as Dan LARIMER, Changpeng ZHAO, Arthur HAYES and other famous personalities in the cryptosphere.

The above companies and individuals are charged with “unlicensed activities” and the sale of unregistered securities through an ICO or IEO. Chase WILLIAMS filed a lawsuit against Binance and its founder, Changpeng Zhao, in which it is reported that the exchange was selling unregistered securities in the form of digital tokens, among which are EOS, TRX, OMG, ELF and others. The lawsuits indicated 42 defendants from Switzerland, the USA, China, Japan, Singapore and other countries.

Now service-of-process and issuance-of-summons are likely to be delayed due to the COVID-19 pandemic and the related disruptions to the judicial system. However, the lawyer Stephen PALLEY is confident that it will not be difficult to put defendants to justice under US law, as the arguments in the lawsuits are weighty.

Image courtesy of Blokt

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