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FTX Blames Binance And Founder Changpeng Zhao For Its Downfall, Demands $1.8 Billion In New Lawsuit

  • Crypto exchange FTX has filed a lawsuit against Binance and its founder Changpeng Zhao.
  • FTX aims to recoup nearly $1.8 billion in fraudulently transferred funds.
  • The lawsuit alleges that Binance acquired an equity stake in FTX in 2019 and later engaged in a share repurchase deal, which FTX claims was fraudulent.
  • FTX also accuses CZ of orchestrating a campaign to destroy FTX through false tweets and triggering a run on the bank.

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