Binance Sued for £150 Million by 1,700 UK Investors
What happened: Nearly 1,700 UK investors are suing Binance and founder CZ at the London High Court, seeking at least £150 million.
The claim: Binance sold risky derivatives (leveraged tokens, futures, options) without FCA approval since late 2019, continuing after the 2021 retail ban.
The allegation: Represented by KP Law, claimants say there was no real barrier blocking UK retail access. Some lost tens of thousands each.
The risk: Under UK law, unauthorised contracts could be ruled unenforceable, letting users reclaim principal and losses.
Binance's response: Vows to defend itself, as MiCA licensing pressure builds in Europe.
What happened: Nearly 1,700 UK investors are suing Binance and founder CZ at the London High Court, seeking at least £150 million.
The claim: Binance sold risky derivatives (leveraged tokens, futures, options) without FCA approval since late 2019, continuing after the 2021 retail ban.
The allegation: Represented by KP Law, claimants say there was no real barrier blocking UK retail access. Some lost tens of thousands each.
The risk: Under UK law, unauthorised contracts could be ruled unenforceable, letting users reclaim principal and losses.
Binance's response: Vows to defend itself, as MiCA licensing pressure builds in Europe.