FTX sues Binance, Ex-CEO Zhao seeking 'fraudulently transferred' $1.8 bn

Quick Summary:

A representative for Zhao didn’t immediately reply to an e-mailed request for comment.

As a result, the share repurchase deal was made fraudulently, it alleged.

FTX and its sister trading house Alameda Research “may have been insolvent from inception and certainly were balance-sheet insolvent by early 2021,” the estate said in the filing.

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Article Details

Category: BusinessFinance

Markets: IndiaMali

Topics: Changpeng Zhao FTX estate Zhao Binance Sam Bankman-Fried Ftx

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-11 @ 18:37:31 (2 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 362 words

Reading Time: 3 minutes read

Sentences: 15 lines

Sentence Length: 25 words per sentence (average)

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

Copyright Owner: © Business Standard

News ID: 23515681

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