“Binance has issued cease & desist notice to the scammer entity “Binance Nigeria Limited,” Mr Zhao tweeted. “Don’t believe everything you read in the news.”
Reacting to the suit, Binance in a tweet via its verified platform on Monday, says it believes the lawsuits against its platform were baseless and vowed to defend itself vigorously.
The traders tried to short-sell, a strategy in which a trader bets that the value of an asset will decrease.
The African cross-border payments startup was valued slightly above $2 billion and had last year raised $150 million in funding.
Binance was taken aback by “a big hole it found in FTX’s finances”, a report said.
Binance tweeted on Tuesday that FTX asked for help and a non-binding letter of intent was signed to help protect users.
The Twitter executives fired on Thursday included Ned Segal, Vijaya Gadde, and Sean Edgett, the general counsel at Twitter since 2012.
The New York Stock Exchange posted on its website showed that the shares would be delisted.
The development was announced on Thursday.
The board will assist Binance navigate the regulatory and political minefield that is the cryptocurrency industry.
