Circuit

April

Amrita Srivastava, a former executive at Binance, has sued Binance Europe Ltd for unfair dismissal. She claims she was fired because she reported bribery in the company. According to a <a href="https://www.bloomberg.com/news/articles/2024-11-28/ex-binance-executive-brings-whistleblower-claim-alleging-bribery?" rel="noopener noreferrer nofollow">Bloomberg report</a>, Srivastava claimed she lost her job in retaliation for exposing these unethical practices in April 2023.
<h2 id="b-srivastava-brings-whistleblower-claims-b">Srivastava Brings Whistleblower Claims&nbsp;</h2>
According to the lawsuit, Srivastava alleged that a co-worker accepted bribes while claiming to offer “consultative services.” She contended that this co-worker enabled direct customer access to Binance while feigning a lack of affiliation with the company. However, one month after reporting these concerns, Srivastava was terminated from her role.&nbsp;
Hence, she seeks legal help and argues that her dismissal violated laws protecting whistleblowers who speak up about wrongdoing. In response to her claims, Binance’s lawyers have denied the accusations of retaliation. They claimed Srivastava was fired for poor performance, not because she reported the bribery incident. Meanwhile, Binance Europe Ltd is yet to release an official statement about the lawsuit.
<h2 id="b-binance-s-legal-challenges-b">Binance’s Legal Challenges</h2>
Earlier this year, the U.S. Securities and Exchange Commission <a href="https://thecoinrise.com/federal-judge-gives-split-win-in-sec-vs-binance-lawsuit/" rel="noopener noreferrer nofollow">(SEC) filed a suit against Binance and former CEO Changpeng “CZ” Zhao</a>, accusing them of misleading regulators about the exchange’s market surveillance controls and artificially inflating trading volumes. That case is currently proceeding after a court-approval of most of the SEC’s claims.
Additionally, in March, the 2nd U.S. Circuit Court of Appeals in Manhattan revived a <a href="https://thecoinrise.com/binance-faces-revived-lawsuit-over-alleged-securities-violations/" rel="noopener noreferrer nofollow">separate lawsuit against Binance</a>. Investors accused the exchange of selling unregistered tokens that later incurred significant losses. Not long after, three <a href="https://thecoinrise.com/binance-hit-with-new-class-action-lawsuit-over-money-laundering-failures/" rel="noopener noreferrer nofollow">crypto investors filed a class-action lawsuit against the company</a> for failing to prevent money laundering, resulting in the plaintiffs losing their digital assets.
<a href="https://thecoinrise.com/binance-cz-faces-a-4-month-prison-sentence/" rel="noopener noreferrer nofollow">CZ resigned as Binance CEO</a> in November 2023 after pleading guilty to violating U.S. money laundering laws.
<h2 id="b-ftx-legal-team-filed-lawsuit-against-binance-b">FTX Legal Team Filed Lawsuit Against Binance</h2>
Similarly, <a href="https://thecoinrise.com/ftx-takes-aim-at-binance-in-1-76-billion-fraud-lawsuit/" rel="noopener noreferrer nofollow">FTX’s legal team filed a major lawsuit against Binance and CZ</a> for alleged fraud. The lawsuit centers around a $1.76 billion buyback deal that FTX claimed was deceptive and harmful to the exchange. As reported by TheCoinRise, Binance engaged in high-stakes tactics, creating a complex network of transactions to strain FTX’s finances.
Caroline Ellison, former CEO of Alameda Research, also <a href="https://thecoinrise.com/binance-ceos-tweet-resulted-in-ftx-collapse-caroline-ellison/" rel="noopener noreferrer nofollow">accused Zhao of spreading false information on social media</a>, sparking panic that worsened FTX’s crisis.&nbsp;
However, Binance rejected these accusations as meritless and pledged to defend itself vigorously in court. Although the exchange has yet to address each claim, it insisted it operated within legal bounds, and FTX’s downfall resulted from its mismanagement.
The post <a href="https://thecoinrise.com/ex-binance-exec-sues-europe-outfit-over-bribery-allegations/" rel="noopener noreferrer nofollow">Ex-Binance Exec Sues Europe Outfit Over Bribery Allegations</a> appeared first on <a href="https://thecoinrise.com/" rel="noopener noreferrer nofollow">TheCoinrise.com</a>.

Ex-Binance Exec Sues Europe Outfit Over Bribery Allegations

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