Class-action go well with filed in opposition to Binance for alleged hurt to FTX earlier than its collapse

A category-action go well with was filed in opposition to Binance.US and Binance CEO Changpeng Zhao on Oct. 2 within the District Court docket of Northern California alleging numerous violations of federal and California regulation on unfair competitors for trying to monopolize the cryptocurrency market by harming its competitor FTX. The go well with was introduced by Nir Lahav, who’s recognized solely as a California resident.

At subject are posts made by Zhao on Twitter (now X) in early November on the eve of FTX’s collapse. The posts had been made along side the choice by the defendants to liquidate their holdings within the FTX utility token FTT on Nov. 6. The plaintiffs estimated that Binance owned as much as 5% of all FTT tokens.

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