FTX filed a lawsuit against cryptocurrency exchange Binance and its founder and former CEO Changpeng Zhao, demanding the return of $1.8 billion. According to Bloomberg, FTX claims that this amount was withdrawn in unfair ways.
In 2021, Binance acquired 20% of the international division and 18.4% of the US branch from FTX, according to the lawsuit. The deal was paid in FTX tokens and Binance cryptocurrency, which was valued at $1.76 billion at the time.
However, according to FTX's claims, Alameda Research, which made the payment during the deal, was in a bad financial situation and was actually unable to make this payment. FTX management believes the transaction was fraudulent because both Alameda and FTX were already experiencing financial difficulties before the transaction was completed.
The FTX also accused Changpeng Zhao of posting provocative tweets through Twitter (now X) to undermine the reputation of the FTX. For example, the founder of Binance said that the sale of FTT, the tokens of FTX, was done for "risk management". This tweet caused serious concern among FTX users, and the resulting mass withdrawal of funds by users hastened the collapse of FTX.
