Fiat currencies have dominated the global population's wallets for decades upon decades now, but the 21st century's technological advancements brought a new financial alternative to the forefront with the invention of Bitcoin in 2009: cryptocurrency. Though the once-nascent concept took time to catch on with the world's consumer audience at large, cryptocurrency has blossomed over the past few years to become one of the world's most popular forms of investing.

According to a recent survey conducted by The Ascent, more than 145 million U.S. adults - or 56 percent of the nation's adult population - own or have owned some form of cryptocurrency, matching the number of American adults who own stock. The survey went on to reveal that most American crypto holders are newcomers to the industry, showing that 74 percent of U.S. crypto owners bought their very first tokens within the past two years.

Despite cryptocurrencies' oft-discussed potential to revolutionize the way consumers transact through deregulation and decentralization, massive price drops, hacking scandals, and recent failures from industry stablecoins - which, as the name implies, are supposed to remain stable in value and untouched by market volatility - have called the security of investing in cryptocurrency into question and pushed investors' trust in the industry to a whole new low.

But with no established industry regulation, consumers that have been taken advantage of by bad actors' misleading marketing tactics and false promises have no way of achieving justice or getting their money back - except through the court of law.

This is where trial lawyer and Dontzin Nagy LLP co-founding partner Tibor Nagy comes in; with the determination to fight tooth and nail for his clients and a proven track record at winning in court, Nagy is now utilizing his talents and legal prowess to earn fair compensation in court for clients that have been taken advantage of by cryptocurrency platforms.

Nagy is currently waging a precedent-setting class action suit against major cryptocurrency platform Binance, holding it accountable for its role in the crash of purported stablecoin Terra (UST) and its sister coin, Luna, in May 2022. The suit alleges that Binance was in violation of U.S. law and regulations by operating as a securities exchange without registering with the SEC, as well as engaged in false marketing tactics by advertising purchases of UST and Luna on Binance as "safe" and backed by fiat currencies.

"Thousands of retail investors lost huge portions of their life savings because centralized exchanges like Binance chose to profit from sales of unregistered securities like UST," said Nagy. "These exchanges will have to answer for what they've done."

Nagy's clients are certainly in good hands; the trial lawyer's awards speak for themselves, with Nagy gaining nods to Benchmark Litigation's "Under 40 Hot List" and earning the title of "Elite Boutique Trailblazer" from the National Law Journal.

As major cryptocurrencies seem to be on the rebound from their early spring decline in value, expect Nagy's landmark lawsuit against Binance to have the potential to change the way consumers approach cryptocurrency in the future.

Visit Nagy's website for more information on the New York-based trial attorney.