A class-action lawsuit has been filed against Binance and its CEO, Changpeng Zhao, accusing them of activities that led to the downfall of rival exchange FTX. The lawsuit alleges that Binance and Zhao violated federal and Californian laws concerning unfair competition, and sought to establish a monopoly in the crypto market by harming FTX. The plaintiff points to social media posts made by Zhao and Binance's decision to liquidate its FTX token (CRYPTO: FTT) holdings as contributing factors to FTX's collapse.