FTX sues Binance for $1.76B in battle of crypto exchanges founded by convicts

Quick Summary:

Lawsuit seeks "at least $1.76 billion that was fraudulently transferred" by SBF.

In the aggregate, those tokens had a fair market value of at least $1.76 billion".

"As Zhao would later remark, he decided to exit his position in FTX because of personal grievances he had against Bankman-Fried," the lawsuit said.

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Article Details

Author / Journalist: Jon Brodkin

Category: Technology

Markets: United StatesMali

Topics: Binance FTX Policy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-11 @ 19:14:02 (1 days ago)

News Timezone: GMT -5:00

News Source URL: arstechnica.com

Language: English

Article Length: 209 words

Reading Time: 2 minutes read

Sentences: 61 lines

Sentence Length: 4 words per sentence (average)

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

Copyright Owner: © Ars Technica

News ID: 23528534

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About Ars Technica

Main Topics: Technology

Official Website: arstechnica.com

Update Frequency: 9 posts per day

Year Established: 1998

Headquarters: United States

News Last Updated: 19 hours ago

Coverage Areas: United States

Ownership: Independent Company

Publication Timezone: GMT -5:00

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Publisher ID: #32

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