Posted 10/2/2023, 9:59:04 PM
Binance and CEO Sued for Allegedly Harming Rival FTX Before Its Collapse
- Class-action lawsuit filed against Binance and CEO Changpeng Zhao for allegedly harming competitor FTX before its collapse
- Suit alleges Zhao's tweets in November about selling Binance's FTT tokens led to decline in FTT price and FTX's bankruptcy
- Suit claims Zhao's offer to acquire FTX was not in good faith and was meant to harm FTX
- Suit seeks damages for alleged unfair competition in trying to monopolize crypto market
- Binance and FTX already facing regulatory actions when lawsuit was filed