Brian Shroder Luna city Santiment city Santimenton CEO Action Fighting Brian Shroder Luna city Santiment city Santimenton

LUNA and LUNC: A fight on the legal front, but what of the price front?

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In light of regulatory actions following the collapse of Terra’s LUNA and its UST stablecoin, holders of these crypto-assets now seek compensation for their losses.On 13 June, a class-action lawsuit was instituted against Binance.US and its CEO Brian Shroder by Jeffrey Lockhart, who sued for himself and on behalf of all other “similarly situated” claimants.

According to the lawsuit, the claimants allege that Binance.US advertised and sold UST to investors as a “safe asset that could be used to earn substantial returns, including in the form of interest.” In doing so, the exchange misled its users about the “safety” of Terra’s UST stablecoin, it added.

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