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Ars Technica

Ars Technica

FTX sues Binance for $1.76B in battle of crypto exchanges founded by convicts

Ars Technica
Summary
Nutrition label

78% Informative

FTX founder Sam Bankman-Fried sold 20 percent of his crypto exchange to Binance in November 2019 .

Binance exited that investment in 2021 , the lawsuit says.

FTX 's Alameda Research division directly funded the repurchase with a combination of FTT ( FTX 's exchange token) and BNB ( Binance's .

exchange token), and BUSD (B.USD) tokens had a fair market value of at least $1.76 billion .

VR Score

82

Informative language

84

Neutral language

36

Article tone

formal

Language

English

Language complexity

59

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

short-lived

Source diversity

1

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