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The Founder of Binance (CZ) and Binance are accused to monopolize the cryptocurrency market by harming FTX . This significant case about the downfall of FTX have started with tweets made by the CEO of Binance in early November 2023. So, the basis of the lawsuit arises from these tweets by Changpeng Zhao.
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▪️ Zhao announced that he signed a letter to acquire FTX, which made huge waves in the crypto community. However, a day later Zhao stated that they have waived this deal and have other plans for the future of FTX. This development has increased the fluctuations in the crypto world and has deepened the uncertainties in the market.
▪️ The plaintiffs claim that The Founder of Binance (CZ) has harmed FTX assets by disseminating information about the withdrawal of the purchase bid on Twitter and other social media platforms.
▪️ As a result of these statements, FTX assets have suffered from a rapid and unprecedented depreciation and collapsed. This situation further deepened the imbalance in the market and shook investors’ confidence.
▪️ This lawsuit filed against CZ could play a crucial role in shaping future trends of crypto assets.
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