FTX sues Binance and former CEO Zhao Changpeng for US$1.8 billion

Quick Summary:

The lawsuit relates to Binance’s sale of its stake in FTX, the rival exchange founded by the now-imprisoned Sam Bankman-Fried.

A Binance representative said: “The claims are meritless, and we will vigorously defend ourselves.

The lawsuit relates to Binance’s sale of its stake in Sam Bankman-Fried’s FTX, which it acquired in 2019 but then negotiated to sell back to FTX in July 2021.

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Article Details

Author / Journalist: Reuters

Category: Technology

Markets: Hong Kong

Topics: Changpeng Collapsed Ftx’s Executives Billion Zhao Us$1 Alameda Binance Lawsuit Sues

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-12 @ 11:00:08 (1 days ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 214 words

Reading Time: 2 minutes read

Sentences: 7 lines

Sentence Length: 31 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 23542156

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