{"id":51759,"date":"2021-10-26T10:04:52","date_gmt":"2021-10-26T07:04:52","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=51759"},"modified":"2025-09-03T01:30:12","modified_gmt":"2025-09-02T22:30:12","slug":"media-investor-seeks-140-million-in-compensation-from-binance","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-investor-seeks-140-million-in-compensation-from-binance\/","title":{"rendered":"Media: Investor seeks $140 million in compensation from Binance"},"content":{"rendered":"<p>An unnamed investor from Europe initiated ICC arbitration against the cryptocurrency exchange Binance under the rules of the International Chamber of Commerce (ICC). <a href=\"https:\/\/www.theblockcrypto.com\/post\/121865\/european-investor-initiates-icc-arbitration-proceedings-against-binance-seeking-140-million\"> The Block<\/a> reports, citing a source.<\/p>\n<p>According to him, the investor demanded compensation of more than $140 million due to the &#8216;unfair liquidation of the exchange&#8217;s assets in November 2020&#8217;. The proceedings were launched in Switzerland after several months of negotiations, the publication asserts.<\/p>\n<p>According to the press, the claim concerns Binance&#8217;s automated liquidation system. It allegedly forced the investor to sell a large volume of cryptocurrency to their detriment, while the exchange allegedly allowed a conflict of interest.<\/p>\n<p>The complaint is addressed to more than 45 entities worldwide, as the company does not disclose its headquarters. The initiator of the proceedings argues that all of them have ties to Binance.<\/p>\n<p>The ICC Rules <a href=\"https:\/\/www.garant.ru\/article\/355113\/\">are used<\/a> to settle international trade and investment disputes. The parties select arbitrators, and an independent mediator is also appointed.<\/p>\n<div class=\"wp-block-text-wrappers-update-2 article_update\"><time class=\"gtb_text-wrappers_update_time\">26 October 2021 | 13:12<\/time><span class=\"gtb_text-wrappers_update_head\">Update: <\/span><\/p>\n<p>In response to ForkLog&#8217;s inquiry, Binance representatives said they do not comment on current or unresolved legal matters.<\/p>\n<\/div>\n<p>In August, a group of international traders<a href=\"https:\/\/u1f987.com\/en\/news\/group-of-international-traders-files-lawsuit-against-binance-for-more-than-20m-in-losses\"> filed a lawsuit against the cryptocurrency exchange<\/a>, accusing it of failing to provide access to its infrastructure during peak loads and of multi-million-dollar losses.<\/p>\n<p>Follow ForkLog news on <a href=\"https:\/\/vk.com\/forklogcom\" target=\"_blank\" rel=\"nofollow noopener\">VK<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>An unnamed investor from Europe initiated ICC arbitration against the cryptocurrency exchange Binance under the ICC rules. The Block reports, citing a source.<\/p>\n","protected":false},"author":1,"featured_media":51760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744],"class_list":["post-51759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance"],"aioseo_notices":[],"amp_enabled":true,"views":"34","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51759","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=51759"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51759\/revisions"}],"predecessor-version":[{"id":51761,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/51759\/revisions\/51761"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/51760"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=51759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=51759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=51759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}