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1Repair Windows errors before they cause bigger problems2Fix the driver behind crashes, sound loss and screen glitches3Clear out junk files and repair common Windows errorsFTX’s bankruptcy estate is seeking to recover about $1.76 billion in cryptocurrency that it says Alameda Research paid Binance, Changpeng Zhao and others in a 2021 share buyback. That figure is the plaintiffs’ alleged transfer amount—not a court-ordered payment or a finding that Binance owes the money. A July 24, 2026 ruling allowed some claims to proceed past dismissal while dismissing others; it did not decide who is ultimately liable.
Why is FTX suing Binance for $1.76 billion?
The dispute concerns a July 2021 repurchase of equity stakes in FTX. In its complaint, the FTX estate alleges that FTX executives and an Alameda Research subsidiary agreed to pay approximately $1.76 billion in cryptocurrency to buy back shares held by Binance, Zhao and certain Binance executives. The estate is pursuing the case in FTX’s bankruptcy proceedings as an effort to avoid or recover the transfer.
The U.S. Bankruptcy Court for the District of Delaware described the alleged consideration as FTT, BNB and BUSD. The plaintiffs allege that Alameda funded the payment and that FTT was worthless at the time because FTX was secretly insolvent. Those are allegations in the civil case, not findings that the July 2026 court made about the transfer’s funding, FTT’s value or the defendants’ knowledge.
What was the 2021 FTX and Binance share buyback?
The buyback ended an earlier investment relationship. In its July 2026 opinion, the bankruptcy court summarized the complaint as saying Binance and Zhao acquired a 20% stake in FTX Trading for $18.3 million in 2019. Binance-associated holders also acquired an 18.4% stake in West Realm Shires, FTX’s U.S. parent, for two dollars. The disputed 2021 transaction was the later repurchase of those equity interests, not a new investment by Binance.
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FTX Trading operated FTX.com. FTX entered Chapter 11 bankruptcy in November 2022, after which its estate brought this adversary proceeding. The complaint’s approximately $1.76 billion figure refers to the cryptocurrency allegedly paid in the repurchase; it should not be read as a judicially established loss or an amount already recovered.
What did the judge decide in the FTX Binance lawsuit?
On July 24, 2026, Chief Judge Karen B. Owens of the U.S. Bankruptcy Court for the District of Delaware ruled on motions to dismiss. At that stage, the court addressed whether claims could continue, not whether the allegations had been proved at trial.
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- Counts I–V against Wenjun Lim and Dinghua Xiao were dismissed.
- Counts VI–IX against the Binance defendants were dismissed.
- The court denied the remainder of the relief requested in the motions, leaving some claims in the case at that procedural stage.
The order was not a final merits judgment: it did not establish liability on surviving claims, determine the amount recoverable or require Binance to pay $1.76 billion. The status described here is the result stated in the July 24, 2026 order; it does not establish whether later docket events changed the case.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Are the criminal and regulatory cases part of this lawsuit?
No. The civil recovery action is separate from criminal proceedings involving Sam Bankman-Fried and Binance or Zhao, and from the SEC’s civil enforcement case. The phrase “founded by convicts” obscures those distinctions: the individuals’ legal outcomes arose in separate proceedings, and they do not decide the FTX estate’s claims about the buyback.
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| Proceeding | Parties and issue | Court or agency and date | Reported result |
|---|---|---|---|
| FTX bankruptcy adversary proceeding | FTX’s estate seeks to avoid or recover the alleged 2021 share-buyback transfer from Binance, Zhao and others. | U.S. Bankruptcy Court for the District of Delaware; July 24, 2026 order | Some claims and defendants dismissed; the remaining dismissal relief denied. Not a final liability ruling. |
| Bankman-Fried criminal case | Criminal prosecution of Sam Bankman-Fried over FTX- and Alameda-related conduct. | U.S. Court of Appeals for the Second Circuit; June 12, 2026 | The court affirmed his conviction on seven counts and his 25-year sentence. This does not decide the estate’s civil recovery claims. |
| Binance and Zhao criminal case | Separate U.S. charges involving anti-money-laundering controls, unlicensed money transmission and sanctions compliance. | Separate U.S. proceeding; guilty pleas in 2023, as recounted in the Delaware opinion | Binance Holdings Limited and Zhao pleaded guilty. Those pleas are not a ruling on the disputed FTX transfer. |
| SEC civil enforcement action | SEC action against Binance entities and Zhao. | U.S. Securities and Exchange Commission; May 2025 | The SEC announced dismissal with prejudice. It said the dismissal did not necessarily reflect its position in other litigation or proceedings, and it did not resolve the FTX estate’s case. |
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