Binance Affiliates Sue RedotPay Founders for Nearly $473 Million
💼 RedotPay is facing a lawsuit from Binance-affiliated companies seeking approximately $473 million, alleging that it diverted over 470,000 users from Binance Card by improperly using Binance Pay.
📉 The plaintiffs calculated damages based on a lifetime customer value of $925 for each diverted user, with a related case also filed in Singapore.
🚀 Despite the legal challenges, RedotPay is expanding in the crypto payments sector and preparing for a potential public listing, having raised $194 million in funding and achieving significant growth in transaction volume.
💼 RedotPay is facing a lawsuit from Binance-affiliated companies seeking approximately $473 million, alleging that it diverted over 470,000 users from Binance Card by improperly using Binance Pay.
📉 The plaintiffs calculated damages based on a lifetime customer value of $925 for each diverted user, with a related case also filed in Singapore.
🚀 Despite the legal challenges, RedotPay is expanding in the crypto payments sector and preparing for a potential public listing, having raised $194 million in funding and achieving significant growth in transaction volume.