Cryptocurrency traders struggle to sue Binance

Cryptocurrency traders struggle to sue Binance


Photo by STR/NurPhoto via Getty Images

One fun (?) thing about cryptocurrency is that it’s newer than regular money — or as the cryptocurrency enthusiasts call it, fiat — and for this reason it is less regulated. I am going to leave the case against regulation to the libertarians who are interested in making it; instead, let’s direct our attention to this Wall Street Journal story about Binance.

Binance, the largest cryptocurrency exchange in the world, had a Robinhood-style oopsie woopsie during a plunge in Bitcoin value on May 19. Users were locked out of the system, and couldn’t make trades to stop the bleeding.

Now, Robinhood users are suing Robinhood for the March 2020 outages, but Binance doesn’t have a headquarters — so it…

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This post was originally created on this site & curated for Mamizi members