FTX Sues Binance and CZ for $1.8B Over Alleged Fraudulent Transfer

FTX Sues Binance and CZ for $1.8B Over Alleged Fraudulent Transfer

FTX has filed a lawsuit against Binance Holdings and its former CEO Changpeng Zhao, known as CZ, seeking $1.76 billion over a controversial share repurchase deal allegedly arranged by FTX’s Sam Bankman-Fried in July 2021. According to Bloomberg, the deal involved Bankman-Fried selling approximately 20% of FTX’s international shares and 18.4% of its U.S.-based branch stakes to Binance, funded largely by FTX’s FTT tokens and Binance-issued BUSD an...

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