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FTX Sues Binance and CZ for $1.8B Over Fraudulent Transfer
- FTX is suing Binance and Changpeng Zhao (CZ) for $1.8 billion over a 2021 share repurchase deal.
- The lawsuit alleges the deal was fraudulent due to FTX’s insolvency at the time.
- FTX claims that the repurchased shares were essentially worthless due to their financial instability.
- FTX also accuses Zhao of exacerbating the situation with damaging public statements.
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