The lawsuit seeks at least $1.76 billion that was fraudulently transferred to Binance at the expense of FTX creditors, emphasizing wrongful transfers and intent behind them.
The lawsuit states that FTX's Alameda Research funded the share repurchase using tokens worth at least $1.76 billion, despite FTX and Alameda being balance-sheet insolvent.
The transfer was characterized as a constructive fraudulent transfer under bankruptcy law, and also as intentional due to its alignment with Bankman-Fried's alleged schemes.
Testimonies reveal that within the FTX hierarchy there was an acknowledgment of insolvency and inability to fund transactions, highlighting precarious financial conditions.
Collection
[
|
...
]