Case centres on alleged fraudulent transfer by former FTX boss Sam Bankman-Fried
FTX filed a lawsuit against Binance and its former chief executive Changpeng Zhao, seeking to claw back almost $1.8 billion it alleges was fraudulently transferred by Sam Bankman-Fried.
Bankman-Fried paid for the stock repurchase using a mix of FTX’s exchange token FTT and Binance-branded coins BNB and BUSD valued at $1.76 billion at the time, according to the filing.
Binance Sam-Bankman-Fried Crypto
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