<ul class="news-points"> 
 <li>Binance and its CEO, Changpeng Zhao, allegedly attempted to monopolize the market, deliberately harming FTX.</li> 
 <li>The lawsuit sheds light on posts made by Zhao in November 2022, which are claimed to have contributed to the collapse of FTX.</li> 
 <li>Zhao’s announcement of the liquidation of FTT tokens allegedly caused a 14% decline in FTT’s price.</li> 
</ul> 
A class-action suit was filed against <a href="https://coinedition.com/tag/changpeng-Zhao/">Binance and its CEO, Changpeng Zhao</a>, for attempting to monopolize the market by hurting its competitor exchange platform, FTX. 
The action suit shed light on some posts made by Zhao on X (previously Twitter) in November 2022 that allegedly led to the collapse of FTX. These posts were, according to the allegations, made to intentionally hurt FTX. 
The action suit mentioned a post by Zhao on Sunday, November 6, 2022, when he said, “Due to recent revelations that have come to light, we have decided to liquidate any remaining FTT on our books.” The plaintiffs estimated that Binance held up to 5% of FTT. 
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 As part of Binance’s exit from FTX equity last year, Binance received roughly $2.1 billion USD equivalent in cash (BUSD and FTT). Due to recent revelations that have came to light, …
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The post <a rel="nofollow" href="https://coinedition.com/binance-and-ceo-face-class-action-suit-over-ftx-alleged-sabotage/">Binance and CEO Face Class-Action Suit Over FTX Alleged Sabotage</a> appeared first on <a rel="nofollow" href="https://coinedition.com">Coin Edition</a>.

Binance and CEO Face Class-Action Suit Over FTX Alleged Sabotage

Coin Edition

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