FTX Estate Sues Over Fraud
This is a US news story, published by New York Post, that relates primarily to Zhao news.
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defunct FTXNew York Post
•FTX sues Binance for $1.8B, claims ex-CEO Zhao ‘set out to destroy’ firm
67% Informative
FTX has filed a lawsuit against rival firm Binance and its former CEO Changpeng Zhao in an effort to claw back nearly $1.8 billion linked to an allegedly “fraudulent” deal orchestrated by Binance CEO Sam Bankman-Fried .
Zhao and his allies sold stakes amounting to roughly 20% of FTX ’s international business and an 18.4% stake in a US -based affiliate in exchange for a massive sum of cryptocurrencies.
Zhao has since stepped down as Binance 's CEO but remains its majority shareholder.
VR Score
50
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38
Neutral language
68
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formal
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English
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63
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short-lived
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2
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2
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