Binance US Legal Woes Escalate as Appeals Court Revives HEX Token Manipulation Lawsuit
- A U.S. appeals court has partially overturned the dismissal of a class-action lawsuit against Binance US.
- The lawsuit alleges HEX token price manipulation by Binance US and CoinMarketCap.
- The SEC has separately sued HEX founder Richard Heart for federal securities violations and defrauding investors.
In a notable ruling, the Ninth Circuit Court of Appeals found that Binance US and CoinMarketCap’s significant U.S. connections satisfy the due process requirements for personal jurisdiction, giving the lawsuit new momentum.
This revived lawsuit, amid increasing regulatory scrutiny, could set critical precedents for jurisdiction and digital asset exchange regulations, impacting the broader cryptocurrency industry.
