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BTC $66,271.89 +5.22%
ETH $1,964.45 +8.05%
BNB $614.34 +5.32%
XRP $1.42 -4.56%
SOL $81.67 -4.53%
TRX $0.2795 -0.47%
DOGE $0.0974 -3.83%
ADA $0.2735 -4.22%
BCH $507.96 +5.67%
LINK $8.64 -2.97%
HYPE $28.98 -1.81%
AAVE $122.61 -3.42%
SUI $0.9138 -6.63%
XLM $0.1605 -4.62%
ZEC $260.31 -8.86%

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CZ requests the bankruptcy court to dismiss the $1.76 billion lawsuit filed by the FTX trust

ChainCatcher news, according to market reports, CZ has become the latest Binance-related individual to request a bankruptcy court to dismiss the FTX trust allegations. The trust is attempting to recover $1.76 billion improperly transferred by Sam Bankman-Fried (SBF). CZ filed a motion in the U.S. Bankruptcy Court in Delaware on Monday, stating that the FTX trust and FTX Digital Markets Ltd. cannot prove he has a "domicile" in Delaware, as he is a resident of the UAE and not subject to the jurisdiction of that state.CZ stated in the documents: "These allegations are far removed from Delaware, and even from the U.S. mainland, and the relevant laws do not have extraterritorial effect, thus are not applicable."As early as November 2024, the FTX trust and FTX Digital Markets had filed a lawsuit against Binance and its executives due to a share buyback agreement from July 2021. In July of this year, two former Binance executives, Samuel Wenjun Lim and Xiao Dinghua, also requested the court to remove themselves from the lawsuit.The FTX trust alleges that Binance and the aforementioned executives obtained funds through the share buyback transaction when they sold approximately 20% of FTX's international business and 18.4% of FTX's U.S. business. According to court documents, to complete this transaction, Alameda Ltd. (registered in the British Virgin Islands) transferred funds to Binance. The Binance-related entities are registered in Ireland, the Cayman Islands, and the British Virgin Islands, so CZ's team pointed out that this transaction has a clear "extraterritorial nature" and should not be subject to U.S. law.
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