[Binance Subsidiary Files Lawsuit in Hong Kong Against RedotPay Founding Team, Seeking Approximately $470 Million in Damages] According to Bloomberg, Binance Holdings-affiliated entities Nest Trading Ltd., Distributed Technologies Ltd., and Chaintecs Consulting Singapore Pte have filed a lawsuit in Hong Kong against crypto payment company RedotPay and its co-founders Gao Zhangpeng, Chan Wa Choi, and Yao Chao. The lawsuit alleges that after the parties signed an agreement last year, the defendants engaged in a "fraudulent scheme" to redirect hundreds of thousands of users—who were originally intended to flow to Binance-related products—toward competing products, constituting a breach of contract and resulting in approximately $470 million in losses.