Waves

Billion

Coin

<ul class="wp-block-list news-points">
 <li>FTX Seeks $1.8 Billion clawback from Binance, alleging fraudulent 2021 share repurchase.</li>
 <li>Alameda sues Waves founder, claims $90 million misappropriated via Vires finance.</li>
 <li>FTX Accuses Zhao of misleading tweets, citing role in exchange’s collapse.</li>
</ul>
FTX has filed a lawsuit against Binance Holdings Ltd. and its former CEO, Changpeng Zhao, to recover approximately $1.8 billion. The FTX estate alleges that this amount was illegally transferred by FTX’s former head, Sam Bankman-Fried.
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="581" height="544" src="https://coinedition.com/wp-content/uploads/2024/11/Screenshot_27.png" alt="" class="wp-image-543517" srcset="https://coinedition.com/wp-content/uploads/2024/11/Screenshot_27.png 581w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_27-300x281.png 300w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_27-380x356.png 380w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_27-95x89.png 95w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_27-475x445.png 475w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_27-264x247.png 264w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_27-256x240.png 256w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_27-176x165.png 176w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_27-225x211.png 225w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_27-75x70.png 75w, https://coinedition.com/wp-content/uploads/2024/11/Screenshot_27-80x75.png 80w" sizes="(max-width: 581px) 100vw, 581px">
 <figcaption class="wp-element-caption">Source: <a href="https://x.com/CoinEdition/status/1855894641532448794" target="_blank" rel="noopener noreferrer nofollow">Twitter</a>
 </figcaption>
 </figure>
</div>
The lawsuit details a July 2021 stock repurchase transaction between Binance and FTX’s co-founder, Bankman-Fried. In this agreement, Binance and Zhao sold stakes totaling about 20% in FTX’s international arm and 18.4% in its U.S.-based entity.
FTX asserts that Bankman-Fried funded this $1.76 billion deal using FTX’s token, FTT, BNB, and BUSD. FTX also accuses Zhao of releasing misleading information about FTX that contributed to its collapse, citing a tweet by Zhao on November 6, 2022, where he announced Binance’s plans to sell its FTT tokens, valued at approximately $529 million.
<h2 class="wp-block-heading" id="h-alameda-research-s-lawsuit">Alameda Research’s Lawsuit</h2>
On the same day, <a href="https://restructuring.ra.kroll.com/ftx/Home-DownloadPDF?id1=MzIyNDgzNg==&amp;id2=-1" target="_blank" rel="noopener noreferrer nofollow">Alameda Research filed a l…</a>
The post <a href="https://coinedition.com/ftx-sues-binance-and-cz-for-1-8-billion-alameda-research-targets-waves-founder/" rel="noopener noreferrer nofollow">FTX Sues Binance and CZ for $1.8 Billion; Alameda Research Targets Waves Founder</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

FTX Sues Binance and CZ for $1.8 Billion; Alameda Research Targets Waves Founder

Table of Contents

Coin Edition

Other articles published on Nov 11, 2024

These 5 coins could be perfect for beginners and could see 2-5x growth

Will Bitcoin Break The $300,000 Mark? Reasons To Believe It

Dogecoin Surges After Trump’s Election Victory

BitcoinCash Weekly News November 11th 2024 by the BCHF

FTX bankruptcy estate files $1.8B lawsuit against Binance, CZ

MicroStrategy’s Massive Bitcoin Purchase, Again! BTC Price Above $80k

Join our free newsletter for daily crypto updates!