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FTX sues crypto exchange Binance and its former CEO Zhao for $1.8 billion

  • FTX is suing Binance and its former CEO Changpeng Zhao for $1.8 billion, claiming funds were "fraudulently transferred" by FTX management to Binance and its executives.
  • The lawsuit involves Binance's sale of its stake in FTX, which it sold for $1.76 billion, funded by Alameda Research.
  • FTX alleges that Alameda was insolvent while buying the shares, seeking to recover funds for FTX's creditors and claiming damages at trial.
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