Binance Requests FTX Dismissal of $1.76 Billion Cryptocurrency exchange
Binance has filed a motion to dismiss a $1.76 billion lawsuit from FTX. The company's lawyers called the claims "legally invalid" and demanded that the case be dismissed.
FTX filed the lawsuit last November, accusing Binance of intentionally draining funds through a 2021 deal. At that time, the former bought out 20% of the largest exchange's shares for crypto assets, including BNB, BUSD, and FTT.
After FTX collapsed in 2022, the administration claimed that the deal was financed by stolen client money, and public statements by Binance CEO Changpeng Zhao triggered the bankruptcy.
In court documents, the exchange team denied the accusations, calling them an attempt to shift responsibility for the collapse of FTX to third parties. The company recalled that the founder of the collapsed exchange, Sam Bankman-Fried, has already been sentenced to 25 years for fraud, and the platform continued to operate for 16 months after the 2021 deal.
Binance's lawyers also emphasized that the company does not fall under US jurisdiction, and Zhao was not personally involved in the deal.
FTX is in the process of contacting issuers about its assets and intends to file additional claims against parties that do not respond to requests.
Recall that in April, FTX liquidators disqualified at least 392,000 compensation claims.
