Crypto
$1.8 Billion Lawsuit Against Binance and CZ Continues After Key Ruling
A Delaware bankruptcy court has denied Binance and its former CEO Changpeng Zhao's motion to dismiss a lawsuit filed by an FTX recovery trust seeking $1.76 billion in allegedly fraudulent transfers.
The money was paid out under a 2021 share repurchase agreement, Judge Karen B. Owens of the US Bankruptcy Court for the District of Delaware ruled on July 24.
FTX's collapse in November 2022 led to significant losses for investors and sparked lawsuits against various parties involved, including Binance and Zhao, also known as CZ.