Binance Moves to Dismiss $1.76B FTX Lawsuit

The motion to dismiss calls the lawsuit “legally deficient.” Binance claims there’s no real evidence linking it—or former CEO Changpeng Zhao—to the failure of FTX.

“FTX didn’t collapse because of Binance,” the filing argues. “It failed because of massive fraud by Sam Bankman-Fried.”

FTX’s lawsuit, filed last November, targets a July 2021 crypto transfer to Binance. The deal involved $1.76 billion worth of digital assets and was tied to a share repurchase.

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Binance says the deal was legitimate and aboveboard. FTX, it claims, is now just trying to recover money lost through its own mismanagement.

Sam Bankman-Fried, once hailed as a crypto visionary, now serves a 25-year prison term. A jury found him guilty of defrauding FTX customers, lenders, and investors.

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