FTX sues Binance and its former CEO for $1.8bn
by Reuters from Technology | The Guardian on (#6S4RY)
Collapsed cryptocurrency company says $1.8bn was fraudulently transferred' to Binance and its executives
The collapsed cryptocurrency company FTX is suing Binance and its former CEO Changpeng Zhao, alleging that $1.8bn was fraudulently transferred" by FTX management to Binance and its executives.
The lawsuit relates to Binance's sale of its stake in Sam Bankman-Fried's FTX, which it acquired in 2019 but then negotiated to sell back to FTX in July 2021.
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