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According to Bloomberg, FTX has filed a lawsuit against Binance and its founder CZ. FTX is demanding $1.8 billion in the lawsuit.
According to the report, FTX has filed a lawsuit against Binance and its former CEO Changpeng Zhao to recover approximately $1.8 billion that it claims was fraudulently transferred by Sam Bankman-Fried.
Binance, Changpeng Zhao, and other Binance executives received the funds as part of a share buyback agreement with now-jailed FTX co-founder Bankman-Fried in July 2021.
*This is not investment advice.