FTX sues Binance and former chief Zhao for $1.8bn
Collapsed crypto exchange FTX is suing Binance and its former chief executive Changpeng Zhao for $1.8bn, over an allegedly “fraudulent” share deal. The dispute relates to a July 2021 deal in which Binance, Zhao and other executives sold their roughly 20 per cent stake in FTX back to the company in exchange for crypto tokens valued at $1.76bn.