Bankrupt FTX sues Binance for $1.8 billion, alleging a "fraudulent" stake deal in 2021.

Bankrupt cryptocurrency exchange FTX has filed a lawsuit against Binance and its former CEO Changpeng Zhao, seeking $1.8 billion, alleging a "fraudulent" share deal in 2021. FTX claims Binance sold back a 20% stake in FTX and 18.4% in its U.S. entity, funded by FTX's Alameda Research division. Binance denies the allegations and will defend itself. The lawsuit is part of ongoing legal actions by FTX against former affiliates following its collapse.

November 10, 2024
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