U.S. law firm Roche Cyrulnik Freedman initiates class action lawsuit against 11 crypto companies

US law firm Roche Cyrulnik Freedman has initiated a series of class actions against 11 cryptocurrency companies including Binance, Block.one, Bitmex, and Tron, alleging that these companies sold illegal securities in the form of digital tokens and deceived investors. These lawsuits initiated in the US District Court in the Southern District of New York contain common themes. They all claim that token issuers took advantage of the market ’s lack of understanding and understanding of how cryptocurrencies work and sold these so-called “illegal securities” to the United States citizen. Roche Cyrulnik Freedman is the law firm behind the Bitfinex market manipulation lawsuit in October 2019. The law firm also represented Kleiman Real Estate in a multi-billion dollar lawsuit against Craig Wright, who claimed to be the inventor of Bitcoin. In addition to the above four cryptocurrency companies, this lawsuit also includes KuCoin, Quantstamp, Bibox, KayDex, Status, BProtocol and Civic. The lawsuit also mentioned the main executives of these companies, including Block.one CEO Brendan Blumer, CTO Dan Larimer, Civic CEO Vinny Lingham and BitMEX founder Arthur Hayes and Binance founder Zhao Changpeng.