The estate of FTX alleges that Binance and ChangPeng Zhao fraudulently received nearly $1.8 billion through a share repurchase deal facilitated by Sam Bankman-Fried.
FTX claims that the share repurchase deal, funded by Alameda Research using FTX tokens, was a 'constructive fraudulent transfer' due to alleged insolvency.
Binance has firmly denied the allegations, asserting that the claims against them are meritless and that they will vigorously defend themselves against these lawsuits.
The lawsuit cites Zhao's tweets as contributing to FTX's collapse, describing them as 'false, misleading, and fraudulent' and aimed at harming FTX's business.
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