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New York Post

New York Post

FTX sues Binance for $1.8B, claims ex-CEO Zhao ‘set out to destroy’ firm

New York Post
Summary
Nutrition label

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

Informative language

38

Neutral language

68

Article tone

formal

Language

English

Language complexity

63

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

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