The estate of now-defunct crypto exchange FTX has filed a lawsuit against Binance and its former CEO Changpeng Zhao in a bid to recover $1.76 billion. FTX alleges these funds were fraudulently transferred to Binance, Zhao, and other Binance executives in July 2021 as part of a shares repurchase deal with FTX co-founder Sam Bankman-Fried.
According to the filing, the transaction saw Binance sell back the 20 percent stake it held in FTX’s international unit and 18.4 percent in its US-based…
