Crypto
Home›Crypto›Regulation›RedotPay and Binance dispute whether Singapore case is…
RedotPay and Binance dispute whether Singapore case is ending
The fight centers on a wider nearly $473 million dispute, with RedotPay seeking legal costs after an Aug. 7 hearing.
Cointelegraph reports that RedotPay and Binance are clashing over whether a Singapore case tied to their broader, nearly $473 million Hong Kong legal battle is coming to an end.
RedotPay told Cointelegraph it expects Binance to discontinue the Singapore proceedings after a hearing on Aug. 7, and said it would seek legal costs connected to any discontinuance while the parties try to agree on costs.
Binance, in contrast, said there are no plans to abandon its Singapore claims, calling reports of a withdrawal false and stating it has informed the court and RedotPay that it is not abandoning its claims.
The dispute is part of a wider legal fight involving Binance-affiliated plaintiffs seeking nearly $473 million in damages in Hong Kong, alleging RedotPay diverted more than 470,000 Binance Card users by using Binance Pay funds for stablecoin card top ups outside a commercial agreement. Cointelegraph also notes that related proceedings were filed in Singapore, where a hearing was scheduled for Aug. 7.