FTX Sues Former Rival for $1.76B
This is a news story, published by Ars Technica, that relates primarily to Sam Bankman-Fried news.
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cryptocurrency exchange FTXArs Technica
•FTX sues Binance for $1.76B in battle of crypto exchanges founded by convicts
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 .
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