Binance Founder Sued by VC Fund Sequoia Capital
Sequoia Capital, a venture capital firm headquartered in California is suing the founder of the cryptocurrency exchange Binance, Changpeng Zhao. The American VC fund reportedly accuses the founder of allegedly negotiating future investments with another firm while he signed an exclusivity agreement with Sequoia. Binance stated:
"Mr. Zhao denies all of Sequoia's allegations relating to the present dispute. As the substantive issues in dispute between the parties are subject to confidential arbitration proceedings, Mr. Zhao will make no further comment on the matter."
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