Now Reading: Binance rejects RedotPay claim of withdrawing Singapore lawsuit
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Binance rejects RedotPay claim of withdrawing Singapore lawsuit
Binance rejects RedotPay claim of withdrawing Singapore lawsuit
Binance has rejected RedotPay's claim that a Singapore lawsuit against the firm could be discontinued. The exchange says it remains committed to its claims in the dispute. The case was filed by…
The Story in Brief
Binance has rejected RedotPay's claim that a Singapore lawsuit against the firm could be discontinued. The exchange says it remains committed to its claims in the dispute. The case was filed by Binance-linked Chaintecs Consulting Singapore against RedotPay affiliates.
Separately, a Hong Kong lawsuit seeks nearly $473 million (roughly Rs 4,510 crore) from RedotPay. RedotPay expects the Singapore case to be dropped and plans to seek legal costs from the claimant if proceedings end.
The Indian Opinion
Some may see RedotPay's announcement as a sign Binance is backing down in Singapore, but the exchange's firm denial shows it is still pressing its claims. The huge Hong Kong suit for Rs 4,510 crore indicates a serious dispute, not a minor tiff. Watch for the Singapore court's decision on any cost application, which will reveal which party is more confident.
Source: gadgets360.com
This story was synthesised by AI from the source linked above.
