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FTX Launches $1.8B Legal Battle Against Binance and CZ Amid Bankruptcy

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Source: CNBC
FTX Launches $1.8B Legal Battle Against Binance and CZ Amid Bankruptcy
Photo: CNBC
TL;DR

FTX has filed a lawsuit against Binance and its former CEO Changpeng Zhao, seeking to recover $1.76 billion from a 2021 share deal deemed "fraudulent." The suit claims the transaction was funded by FTX's insolvent Alameda Research and involved misleading actions by Zhao, including tweets that allegedly led to FTX's collapse. Binance denies the allegations, calling them meritless. This legal battle follows the downfall of FTX and the conviction of its co-founder Sam Bankman-Fried for fraud.

Topics:businesscryptocurrency#binance#changpeng-zhao#cryptocurrency#fraud#ftx#lawsuit
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  1. FTX sues crypto exchange Binance and its former CEO Zhao for $1.8 billion  CNBC
  2. FTX bankruptcy estate files $1.8B lawsuit against Binance, CZ  Cointelegraph
  3. FTX Sues Scaramucci to Recoup Money Poured in Showy Investments  Bloomberg
  4. FTX is suing Binance to recover nearly $1.8 billion  The Verge
  5. After Anthony Scaramucci, FTX Sues Binance And Ex-CEO Changpeng 'CZ' Zhao To Reclaim $1.8B Amid Bankruptcy Tussle  Benzinga

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