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Crypto

Binance affiliates sue RedotPay, alleging 470,000 Binance Card users left

Binance affiliates have filed a $472.8 million damages lawsuit against RedotPay co-founders, alleging RedotPay breached a commercial agreement and moved more than 470,000 Binance Card users to its service. The suit was brought by Nest Trading, Distributed Technologies and Chaintex Consulting Singapore, affiliates of Binance Holdings. Binance alleges RedotPay enabled users to top up RedotPay stablecoin payment cards using Binance Pay outside the contract scope.

AI & Enterprise

Vice minister Gu Hyeok-chae visits youth deeptech startups, hears voices from the field

Gu Hyeok-chae (구혁채), first vice minister of South Korea\'s Ministry of Science and ICT, visited Sungkyunkwan University\'s startup incubator in Suwon on July 3 to review innovative technologies and meet young entrepreneurs. The visit marked the 20th stop of the field-focused science and technology policy initiative \"Project Gonggam118\". Gu toured resident startups including Mimetics and Crois and discussed ways to support early-stage deeptech companies.

Crypto

Binance, Changpeng Zhao sued in UK by investors seeking 310 billion won

A group of 1,692 UK investors has filed a class action lawsuit against Binance and its founder and former CEO Changpeng Zhao (창펑 자오), seeking damages and compensation for losses. The claim, lodged at the London High Court, alleges Binance sold and promoted crypto derivatives to UK consumers without authorisation from 2019. Plaintiffs say the conduct breached UK financial law and are also seeking interest under the High Court Act 1981.