FTX bankruptcy estate files $1.8B lawsuit against Binance, CZ
The 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 continues to pursue lawsuits against cryptocurrency companies as part of its ongoing bankruptcy proceedings.
A group of firms involved in the FTX bankruptcy proceedings 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.
