Zhao Changpeng applied to dismiss the $1.76 billion claim filed against him by the FTX trust

ChainCatcher news, according to Bloomberg, Zhao Changpeng has requested the U.S. Bankruptcy Court in Delaware to dismiss the $1.76 billion recovery claim lawsuit filed against him by the FTX trust. The trust claims that the funds were improperly transferred to Binance by SBF (Sam Bankman-Fried).

In a motion submitted on Monday, Zhao stated that he is a resident of the UAE and that the trust cannot prove its jurisdiction in Delaware. He emphasized that the related claims have little connection to the U.S., and the applicable laws have no extraterritorial applicability.

Previously, the trust and FTX Digital Markets sued Binance and several executives over a share buyback agreement with SBF from July 2021. In July of this year, two former Binance executives applied to be removed from the lawsuit. Zhao claimed that he was merely a "nominal counterparty" in the transaction, accusing FTX of "unreasonably" blaming Binance for its bankruptcy.

He also pointed out that serving U.S. lawyers to foreign defendants is improper and would render the complaint invalid. Zhao further stated that U.S. bankruptcy law does not explicitly apply to foreign fund transfers.