Nearly 1,700 UK Investors Sue Binance for $200 Million Over Unauthorized Crypto Derivatives

On 29 June 2026, nearly 1,700 UK investors filed a lawsuit against Binance and founder Changpeng Zhao at London's High Court, seeking at least £150 million ($200 million) over risky derivative products allegedly sold without regulatory authorization. Filed by law firm KP Law and led by claimant Tomas Sutas, the action names four defendants including Cayman Islands-registered Binance Holdings Limited and Abu Dhabi-registered Nest Exchange Limited, arguing they promoted and sold leveraged tokens, cryptocurrency futures, options and margin trading to UK consumers from September 2019 while acting as unauthorized persons under the Financial Services and Markets Act. The claimants allege the sales breached section 19 of FSMA, with some investors claiming losses of tens of thousands of pounds. Binance denied wrongdoing and said it will contest the claim.
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