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id: 840, Created by Stan Vick, Scout
FTX Clients vs. Binance & Zhao over Crypto Crash
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FTX account holders seeking potential compensation from Binance and its CEO, claiming FTX was intentionally crashed to monopolize the crypto market.
Clients of bankrupt FTX brought a lawsuit against Binance and its CEO Changpeng Zhao, accusing Zhao of issuing statements that hastened the demise of FTX in order to remove a competitor and strengthen Binance's hold on the crypto market.
The case alleges that Zhao's actions violated federal securities laws and California's Unfair Competition Law.
Shock Event Date
11 November 2022
02 October 2023
Hon. Peter H Kang