FTX Sues Binance and Ex-CEO Zhao for $1.8B in Bankruptcy Battle

FTX has filed a lawsuit against Binance and its former CEO Changpeng 'CZ' Zhao, seeking to reclaim $1.8 billion allegedly transferred fraudulently. The lawsuit is part of FTX's bankruptcy proceedings, with claims that Binance received $1.76 billion in cryptocurrencies through a repurchase agreement involving FTX co-founder Sam Bankman-Fried, who is currently imprisoned. Binance has dismissed the claims as meritless and plans to defend itself vigorously. This legal action follows FTX's ongoing efforts to recover funds for its creditors.