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Dubai News Club > Tech > FTX is suing Binance to recover nearly $1.8 billion
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FTX is suing Binance to recover nearly $1.8 billion

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Last updated: 2024/11/11
Press Room
Published: November 11, 2024
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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…

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