$473 Million Binance Lawsuit Targets Card Top-Ups RedotPay Pitched to Investors

Binance-affiliated companies are suing RedotPay's three co-founders for $472.8 million. They say users topped up RedotPay cards with money from Binance accounts, which the two firms had agreed to keep apart.

RedotPay pitched that same top-up feature to investors in 2024. Binance says it was never allowed.

The Top-Ups RedotPay Showed Its Investors

Bloomberg reviewed RedotPay's 2024 Series A pitch materials. They named the Binance tie-up as a way to "accelerate user adoption." The deck flagged direct deposits to RedotPay Card from Binance Pay. Binance now calls that practice banned in its petition.

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RedotPay's public Series A announcement tells a different story. It never mentions Binance once. The pitch to investors was private. The press release was not.

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