FTX Sues Binance and Ex-CEO Zhao Over $1.8 Billion FTT Transaction by Imprisoned Bankman-Fried

Nov 11, 2024, 08:37 AM

FTX, the bankrupt crypto exchange, has filed a lawsuit against Binance and its former CEO Changpeng Zhao, seeking to claw back almost $1.8 billion in funds that it alleges were fraudulently transferred by Sam Bankman-Fried, who is currently in prison. FTX accuses Binance and Zhao of obtaining the funds by selling FTT tokens in July 2021 and aims to recover the assets as part of its bankruptcy proceedings.