Bankman-Fried paid for the stock repurchase using a mix of FTX’s exchange token FTT and Binance-branded coins BNB and BUSD valued at US$1.76 billion at the time, according to the filing.
FTX filed a lawsuit against Binance Holdings and its former CEO Changpeng Zhao, seeking to claw back almost US$1.8 billion ($2.40 billion) it alleges was fraudulently transferred by Sam Bankman-Fried.
Binance, Zhao and other Binance executives received the funds as part of a July 2021 share repurchase deal with Bankman-Fried, the FTX co-founder who is now in prison. In that transaction, they sold stakes of about 20% in FTX’s international unit and 18.4% in its US-based entity, according to a legal filing from the FTX estate on Sunday.
