cryptocurrency exchange Even though FTX went bankrupt The legal entity continues to exist. The FTX side went to court in Delaware seeking damages from Binance and former Binance CEO Changpeng Zhao, better known as CZ. sale of shares “fraudulent” FTX, which claims to be $1.76 billion to demand.

According to FTX’s claim Binance, CZ and othersIn a transaction that took place in 2021, it exited its investments in FTX and sold its 20% shares in FTX and 18.4% shares in its US subsidiaries, West Realm Shires, back to FTX. The FTX side claims that this stock resale was a “fraudulent” transaction because it was funded by Alameda Research.

“Alameda had sunk”

FTX side of the business,”Alameda during the share buyback was bankrupt and was not in a position to finance this transaction.” He made a statement. FTX says the deal is structurally fraudulent and that is why it is asking for 1.76 billion. Co-founder of FTX who signed the agreement at the time Sam Bankman-FriedLet us remind you that he is currently serving a 25-year prison sentence for fraud related to the stock market crash.

FTX side CZ is too “For violating the U.S. Bank Secrecy Act, failing to establish an effective anti-money laundering program, violating U.S. economic sanctions, and posting misleading and fraudulent tweets.” accuses.

Binance made these claims while you refuseIn his statement on the matter, he stated that the allegations were baseless and that they would defend themselves with all their might. The future of FTX, once valued at $32 billion, still remains uncertain.