Binance Sues RedotPay for $473 Million. Here's Why

Breaking: Binance just opened a $473 million lawsuit against the RedotPay founders. After reading the lawsuit, my conclusion is that this is less David and Goliath and more Walter White telling a rival they need to obey the rules or else.

I can't believe I'm defending Binance here, but this is fully deserved. In simple terms, here's the full lawsuit.

Binance is suing the co-founders of RedotPay, and they're seeking approximately $473 million in damages.

The core issue: Binance claims RedotPay broke a commercial agreement by diverting over 470,000 users away from Binance Card.

How did this happen? RedotPay allegedly allowed users to fund RedotPay cards "using" Binance Pay, but essentially front-running the whole system to skip out on fees. This broke the agreed-upon terms.

Binance figured this out a while back, as they had already cut off Binance Pay features on RedotPay's platform back in April 2026.

The math: Binance calculated the $473 million figure by estimating the "lifetime value" of each diverted user at $925.

RedotPay is growing rapidly and is the largest crypto neobank in the world. They recently raised $194 million, saw massive transaction growth in late 2025, and are preparing for a potential US IPO that could value the company at over $4 billion.

According to RedotPay, they will defend themselves, and operations are unaffected.

Neither Binance nor RedotPay would comment on this court case.