FTX Settles $228 Million Lawsuit with Bybit, Drops Legal Action in Groundbreaking Agreement
In a significant turn of events in the cryptocurrency sector, FTX Trading Ltd. has reached an agreement to settle its legal disputes with competitor Bybit by dropping a lawsuit in exchange for a $228 million settlement. This decision marks an end to the tensions that escalated last March when FTX accused Bybit of infringing on its intellectual property rights by copying the structure and content of its application programming interface, or API. The settlement not only concludes the pending litigation but also introduces a strategic partnership between the two firms. As part of the agreement, … Read more