After Anthony Scaramucci, FTX Sues Binance And Ex-CEO Changpeng ‘CZ’ Zhao To Reclaim $1.8B Amid Bankruptcy Tussle
Posted On November 11, 2024
In the latest development in the FTX bankruptcy case, the collapsed entity has launched a lawsuit against cryptocurrency exchange Binance (CRYPTO: BNB), aiming to reclaim $1.8 billion.
What Happened: The plaintiffs in the case are alleging that Binance, its ex-CEO Changpeng “CZ” Zhao, and other top executives received a minimum of $1.76 billion in cryptocurrencies through a fraudulent transfer from FTX, a Cointelegraph report revealed on Monday.
The controversial transaction is associated with Binance’s repurchase agreement with Sam Bankman-Fried (SBF), the FTX co-founder who is currently serving a 25-year prison sentence. The plaintiffs claim that Bankman-Fried unlawfully sold stakes of approximately 20% in FTX’s international and …
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