Monday, June 30, 2025
No Result
View All Result
DOLLAR BITCOIN
Shop
  • Home
  • Blockchain
  • Bitcoin
  • Cryptocurrency
  • Altcoin
  • Ethereum
  • Market & Analysis
  • DeFi
  • More
    • Dogecoin
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet
DOLLAR BITCOIN
No Result
View All Result
Home Regulations

FTX Sues Binance and Changpeng Zhao for $1,800,000,000 Over ‘Fraudulent’ Transfers From SBF: Report

n70products by n70products
November 12, 2024
in Regulations
0
FTX Sues Binance and Changpeng Zhao for $1,800,000,000 Over ‘Fraudulent’ Transfers From SBF: Report
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Bankrupt crypto change FTX is reportedly suing Binance and its former CEO Changpeng Zhao over alleged fraudulent transfers initiated by Sam Bankman-Fried.

The property of FTX, which collapsed in 2022 when Bankman-Fried mismanaged buyer funds, is making an attempt to retrieve $1.8 billion from Binance that it says was despatched to Zhao in a inventory repurchase deal, Bloomberg reports.

Binance, Zhao and different executives from the change allegedly acquired the cash from Bankman-Fried in July of 2021 when he purchased again 20% of FTX’s worldwide unit and 18.4% of its US-based entity, authorized filings present.

Bankman-Fried paid for the inventory buyback utilizing FTT – FTX’s change token – and Binance’s BNB and its personal now-defunct stablecoin BUSD.

Legal professionals for the FTX property say that because the change was “actually balance-sheet bancrupt” on the time of the switch, the inventory repurchase settlement was fraudulent in nature.

FTX can also be alleging that Zhao made “false, deceptive, and fraudulent tweets” that have been “maliciously calculated to destroy his rival” shortly earlier than the change collapsed – an allegation that Bankman-Fried additionally made in a “autopsy” weblog in January of 2023.

A Binance spokesperson advised Bloomberg that FTX’s claims have been “meritless” and that Binance was able to defend themselves.

Bankman-Fried is at present serving a 25-year jail sentence. Caroline Ellison, additionally a former CEO of the change, is serving a two-year sentence whereas former co-CEO of FTX Digital Markets Ryan Salame is serving a 7.5 yr jail sentence.

FTX co-founder and former CTO Gary Wang is at present working with US authorities, serving to the federal government develop instruments to trace illicit exercise on crypto exchanges. His legal professionals are nonetheless combating for Wang to keep away from jail time.

Do not Miss a Beat – Subscribe to get e-mail alerts delivered on to your inbox

Test Price Action

Comply with us on X, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp

Get Alerts

Disclaimer: Opinions expressed at The Each day Hodl will not be funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any losses it’s possible you’ll incur are your duty. The Each day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Each day Hodl an funding advisor. Please notice that The Each day Hodl participates in internet online affiliate marketing.

Generated Picture: Midjourney





Source link

Tags: BinanceChangpengfraudulentFTXREPORTSBFsuesTransfersZhao
Previous Post

Will The Gains Keep Coming?

Next Post

Schiff says ‘Bitcoin promoters have corrupted many’ as BTC surges past $82K

Next Post
Schiff says ‘Bitcoin promoters have corrupted many’ as BTC surges past $82K

Schiff says ‘Bitcoin promoters have corrupted many’ as BTC surges past $82K

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Premium Content

Dogecoin Price Gets Caught In Long Cup And Handle Pattern That Could Send Price Crashing Below $0.2

Dogecoin Price Gets Caught In Long Cup And Handle Pattern That Could Send Price Crashing Below $0.2

December 29, 2024
US House committee passes stablecoin-regulating STABLE Act

Pro-crypto Democrats pull support for stablecoin bill in last minute

May 4, 2025
Moody’s downgrades US credit rating due to rising debt

Moody’s downgrades US credit rating due to rising debt

May 17, 2025
Bitcoin Price Comeback: Can It Regain Ground?

Bitcoin Price Comeback: Can It Regain Ground?

December 26, 2024
Samsung and partners tease new XR headset – Hypergrid Business

Samsung and partners tease new XR headset – Hypergrid Business

January 8, 2024
DOGE Millionaires Have Shot Up By 76%

DOGE Millionaires Have Shot Up By 76%

March 7, 2024

Recent Posts

  • ETF Expert Says Ripple Closing This Chapter Clears The Way For XRP ETF, BlackRock To Join The Race?
  • Texas Makes Gold, Silver Legal Tender Following Governor’s Approval
  • XRP Reacts Powerfully After Precise Touch Of The $2.07 Fib Zone

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Blog
  • Cryptocurrency
  • DeFi
  • Dogecoin
  • Ethereum
  • Market & Analysis
  • NFTs
  • Regulations
  • XRP

Recommended

ETF Expert Says Ripple Closing This Chapter Clears The Way For XRP ETF, BlackRock To Join The Race?

ETF Expert Says Ripple Closing This Chapter Clears The Way For XRP ETF, BlackRock To Join The Race?

June 30, 2025
Texas Makes Gold, Silver Legal Tender Following Governor’s Approval

Texas Makes Gold, Silver Legal Tender Following Governor’s Approval

June 30, 2025

© 2023 Dollar-Bitcoin | All Rights Reserved

No Result
View All Result
  • Home
  • Blockchain
  • Bitcoin
  • Cryptocurrency
  • Altcoin
  • Ethereum
  • Market & Analysis
  • DeFi
  • More
    • Dogecoin
    • NFTs
    • XRP
    • Regulations
  • Shop
    • Bitcoin Book
    • Bitcoin Coin
    • Bitcoin Hat
    • Bitcoin Merch
    • Bitcoin Miner
    • Bitcoin Miner Machine
    • Bitcoin Shirt
    • Bitcoin Standard
    • Bitcoin Wallet

© 2023 Dollar-Bitcoin | All Rights Reserved

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version