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The Block (@TheBlockCo): NEW: Binance affiliates are suing RedotPay's founders in Hong Kong, alleging they diverted more than 470,000 customers from Binance Card to a competin…

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NEW: Binance affiliates are suing RedotPay's founders in Hong Kong, alleging they diverted more than 470,000 customers from Binance Card to a competing product in a "fraudulent scheme," Bloomberg reports. Binance is reportedly seeking about $473 million in damages. RedotPay said it will "vigorously defend" the claims.

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