Sequoia Capital Drags Binance to Court as Investment Negotiations Turn Sour

[kreslik.news]

A unit of California-based venture capital firm Sequoia Capital is suing Binance, the world’s largest cryptocurrency exchange by trading volume, following the disintegration of negotiations the two parties, according to a report by Bloomberg.

The lawsuit against Binance was filed in a Hong Kong court by Sequoia Capital, and the court’s filings were dated March 26 and April 24. Moreover, the documents revealed the details of the sour negations between the two parties and the process of valuation of the exchange by the venture capital firm.

The court filings detailed that the CEO of Binance entered into negotiations with ... (read more)