Binance Sues RedotPay Founders: Seeks $472.8 Million Per Bloomberg, Binance-affiliated entities Nest Trading, DistributedTechnologies and Chaintecs Consulting Singapore filed suit in Hong Kong against RedotPay co-founders Gao Zhangpeng, Chan Wa Choi and Yao Chao. The claim: They breached the March 2025 agreement by letting Binance Pay funds top up RedotPay cards without segregation, diverting 470,000+ Binance Card users and ~$304M in user funds. $472.8M is lost future revenue (470K users × $925 lifetime value), not stolen money. Also, RedotPay is one of the largest stablecoin card issuers. 🔹 Binance already cut RedotPay off on April 3, 2026 🔹 An earlier 2023 deal collapsed over the same issue 🔹 RedotPay is prepping a $1B+ US IPO at $4B+ valuation, Binance says those users built that value 🔹 Chaintecs also sued RedotPay affiliates in Singapore, hearing Friday RedotPay denies the allegations and says it will defend itself through the proper legal process, with operations unaffected. Nothing proven yet. That $925 per-user number is where this case gets fought.