Binance Seeks Dismissal of FTX's $1.76B Lawsuit
Latest: Binance has moved to dismiss FTX's $1.76 billion clawback lawsuit, arguing the claim is "legally deficient" and that FTX's collapse was due to internal fraud, not Binance's actions.
Background: FTX's estate is trying to claw back $1.76B from a 2021 deal where FTX repurchased its equity from Binance. FTX claims it was insolvent and used customer funds.
Binance's Stance: Binance says FTX is shifting blame, points out FTX operated for 16+ months post-deal, and argues CZ's tweet was based on public info. They also cite lack of U.S. jurisdiction for foreign entities.
What's Next: The court will decide if the case proceeds.
Sources: Coin World, The Block, TradingView News (all May 20, 2025).
