FTX Clients vs. Binance & Zhao over Crypto Crash

Court: N.D. California

Case: 3:23-cv-05038

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.