Binance lawsuit: Claimants mount up in arbitration for decentralization
Binance processes around $25 billion worth of cryptocurrency trades daily and has seen over $2 trillion move through its exchange to date. When does decentralization stop being an experiment in technological democracy and start being a way to avoid accountability?That’s the question at the heart of a potential $100 million arbitration lawsuit against cryptocurrency exchange Binance, where close to 1,000 traders seek damages for losses suffered during the site’s outage on May 19. Binance experienced technical issues for several hours on May 19 amid one of the worst market crashes of the year as the global cryptocurrency market suffered a 33% drop.
Coin Telegraph - 27th Aug 13:08