Bankrupt crypto exchange FTX is reportedly suing Binance and its former CEO Changpeng Zhao over alleged fraudulent transfers initiated by Sam Bankman-Fried. The estate of FTX, which collapsed in 2022 when Bankman-Fried mismanaged customer funds, is trying to retrieve $1.8 billion from Binance that it says was sent to Zhao in a stock repurchase deal, […]
The post FTX Sues Binance and Changpeng Zhao for $1,800,000,000 Over ‘Fraudulent’ Transfers From SBF: Report appeared first on The Daily Hodl.
Once he completes his four-month sentence at Lompoc prison, Zhao plans to resume his involvement in cryptocurrency.
Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, has reported to a low-security federal prison in Lompoc, California, to begin serving his sentence.
According to a CNBC report, the information was verified with his legal team at Latham and Watkins.
Members of the crypto community have expressed their admiration for the former CEO as he is taken into custody. A Reddit user mentioned that the prison sentence is a positive move by CZ, as it protects Binance from potential risks. User Ilsemprelaziale wrote:
The central bank of Kazakhstan intends to use Binance’s blockchain platform Bnb Chain for the deployment of its upcoming digital currency. The decision was made public on social media by Changpeng Zhao, the chief executive of the global crypto exchange which was recently licensed to work in the country. Kazakhstan to Employ Binance Blockchain Infrastructure […]
Changpeng Zhao (CZ), founder and chief executive officer of cryptocurrency exchange Binance, has announced the opening of an office in Romania. During a visit to the country, he met with high-ranking officials and emphasized Binance’s intentions to expand direct operations in Eastern Europe. Binance to Launch Romanian-Language Support This Fall, Exchange CEO Unveils in Bucharest […]