FTX bankruptcy estate files $1.8B lawsuit against Binance, CZ
The FTX estate argued that Sam Bankman-Fried’s $1.75 billion repurchase deal with Binance in July 2021 was a fraudulent transfer because of FTX’s insolvency.
The FTX bankruptcy estate is continuing its pursuit of lawsuits against cryptocurrency companies as part of its ongoing proceedings, with the latest filing targeting Binance.
A group of firms involved in the FTX bankruptcy proceedings have initiated a lawsuit against cryptocurrency exchange Binance, seeking to recover $1.8 billion, according to a complaint filed on Nov. 10.
In the filing, the plaintiffs argued that Binance, its former CEO Changpeng “CZ” Zhao and other Binance executives received at least $1.76 billion worth of cryptocurrency in a fraudulent transfer from FTX.
