FTX seeks to recover $1.8B from Binance

By Agence France-Presse

Nov 13, 2024 12:21 am

NEW YORK — The liquidators of the defunct cryptocurrency exchange FTX have sued to try to claw back $1.8 billion paid by the company to competitor Binance the year before its bankruptcy, according to court documents filed on Sunday.

Binance owned a 20-percent stake in FTX, which FTX's disgraced Chief Executive Officer (CEO) Sam Bankman-Fried bought back on behalf of his company for $1.76 billion in July 2021.

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