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Binance.Us Caught Red-Handed Again Because Apparently Nobody Has Learned Anything About Cryptocurrency Yet

AltcoinsBitcoinDeFi 1 Barry Thompson August 15, 2024

An illustration of the US Court building with scales tipping to one side as a coin falls off; below: Binance.US and CoinMarketCap logos are shown being pulled by strings held by figures dressed in suits representing investors; HEX token is depicted at the bottom, falling down like an object dropped from above. A diamond ring lies nearby on the ground amidst broken watches and cars. The scene takes place against a backdrop of descending lines resembling stock prices plummeting. In the distance: Richard Heart's figure stands alone looking away with his back turned to the chaos he created

Well isn’t this just peachy! Another chance to talk about the utter dumpster fire that is cryptocurrency and how Binance.US has been manipulating prices on CoinMarketCap for their own nefarious purposes. I mean seriously, who needs a functioning market when you can have price manipulation by an exchange? It’s not like it’ll lead to any kind of trust issues or anything.

And let me guess, the HEX token is still trading at its all-time low because… well, nobody actually knows what this thing does. But hey, that didn’t stop Richard Heart from selling his worthless trash to unsuspecting investors and making off with their money! What a great way to spend your Saturday afternoon: buying overpriced jewelry for yourself while pretending you’re investing in something legitimate.

But wait, it gets better! The SEC sued the guy who created this monstrosity of an investment opportunity (HEX) last year. You’d think that would’ve been enough to send a message about how cryptocurrency is basically just a scam waiting to happen… but nope! People are still buying into these get-rich-quick schemes and losing their shirts in the process.

I mean, what’s next? Are we going to have people selling “investments” based on participation trophies or something?

Source: cointelegraph

US Court of Appeals reboots HEX manipulation case against Binance.US
https://cointelegraph.com/news/us-appeals-court-reboots-manipulation-case-binance-us
A United States appeals court has partially reversed the dismissal of a proposed class-action lawsuit against Binance.US which alleges the exchange unlawfully manipulated the price of the HEX token.  A panel of three judges in the Ninth Circuit reversed a district court’s previous dismissal of the class action suit, saying the plaintiff, Ryan Cox, had made justifiable claims against Binance.US and CoinMarketCap.  Cox first filed the class-action lawsuit in 2021, […]

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About the author

Barry Thompson

Barry’s crypto nightmare began when he bought Bitcoin at $3, thinking he’d stumbled upon the financial opportunity of a lifetime. He sold his stash at $100, only to watch in dismay as Bitcoin soared to absurd heights. Now, Barry channels his rage into scathing articles about the crypto circus, seething with resentment at the digital gold rush he barely missed. His motto: “I sold out at $100, but the joke’s on me because the real joke was believing in this absurd circus.”

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Disclaimer

The content presented on this site is intended solely for entertainment purposes and should not be taken as factual or reliable information. This site employs satire and humor to discuss global news, current events, finance, and cryptocurrency. The views expressed here are not meant to be taken seriously and do not represent the opinions of any individuals, organizations, or entities discussed.

Please be aware that the content may be exaggerated, fictionalized, or otherwise altered to create a comedic effect. It is not intended to provide financial advice, make accurate predictions, or offer any serious commentary on current events or financial markets.

Readers are encouraged to verify any claims or statements with credible sources and should not make any decisions based on the information provided here. This blog is not responsible for any actions taken based on its content. Always consult a qualified professional before making any financial or investment decisions.

Please do not hesitate to contact us if you have any questions or concerns.

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