Binance seeks to dismiss FTX's $1.76 billion clawback lawsuit, claiming it has "legal flaws."

2025-05-20 15:40:46

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ChainCatcher news, according to Decrypt, Binance has requested the Delaware bankruptcy court to dismiss FTX's $1.76 billion clawback lawsuit, claiming it is "legally unfounded" and accusing FTX's collapse of being due to "one of the largest corporate frauds in history" led by its founder Sam Bankman-Fried, rather than Binance's actions.

FTX filed the lawsuit last November to reclaim $1.76 billion in cryptocurrency assets transferred during a stock buyback in July 2021, stating that FTX was insolvent at the time and misappropriated customer funds to complete the transaction.

Binance countered that FTX continued to operate for 16 months after the transaction, and that Zhao Changpeng's tweet on November 6, 2022, about liquidating FTT holdings was not false or misleading.

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["Binance" "FTX" "Lawsuit"]

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