FTX Sues Binance CEO Zhao For $1.76 Billion
AOL · 2d
FTX sues Binance and former CEO Zhao for $1.8 billion received as part of a ‘fraudulent’ share deal
The estate of defunct crypto exchange FTX filed a suit against Binance and its former CEO ChangPeng Zhao seeking to recoup almost $1.8 billion FTX alleges was “fraudulently” transferred to Binance and executives by Sam Bankman-Fried as part of a share deal.
Ars Technica · 2d
FTX sues Binance for $1.76B in battle of crypto exchanges founded by convicts
The complaint filed yesterday in US Bankruptcy Court in Delaware names Binance and co-founder and former CEO Changpeng Zhao among the defendants. FTX founder Sam Bankman-Fried sold 20 percent of his crypto exchange to Binance in November 2019, but Binance exited that investment in 2021, the lawsuit said.
MediaNama · 2d
FTX Sues Binance’s Changpeng Zhao, Alleging Fraudulent Buyback, Sabotage
FTX has filed a lawsuit against Binance and its former CEO Changpeng Zhao for $1.76 billion, asserting Binance’s role in FTX’s 2022 collapse. According to FTX, its founder, Sam Bankman-Fried, financed a share buyback using customer funds—a transaction the suit claims was motivated by Zhao’s alleged attempts to sabotage FTX’s market position.
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