FTX Seeks $1.76 Billion from Binance and Changpeng Zhao, Alleging Fraudulent Share Repurchase
The FTX estate is suing Binance and former CEO Changpeng Zhao for $1.76 billion, accusing them of a “fraudulent” share buyback that fueled FTX’s collapse. The suit claims Zhao’s statements on FTT liquidation caused mass withdrawals, ultimately leading to FTX’s downfall.
November 12, 2024