In short
- Binance has asked a bankruptcy judge in Delaware to reject the $ 1.76b Clawback lawyer of FTX and by facts by facts inadequate and not mentioned.
- The exchange claims that the downfall of FTX was the result of massive fraud orchestrated by its own leadership, not the Binance actions.
- Binance also says that the court misses jurisdiction about its foreign entities and that the tweets 2022 were neither untrue nor misleading.
Binance has asked a bankruptcy judge in Delaware to throw a lawsuit of $ 1.76 billion that has been filed by the FTX estate and says that it is trying to “shift the fault” for his collapse of founder Sam Bankman-GefRijdelde and on his competitors.
Binance Holdings Ltd. said that the complaint is “legal shortage” and Binance or his former CEO Changpeng Zhao from FTX cannot be attached plausible, motion to dismiss submitted last Friday.
“The claimants pretend that FTX did not collapse as the result of one of the most massive business fraud in history,” said the submission and noticed that former CEO Sam Bankman-Friedduurt is now one 25-year-old prison for fraudulent Customers, investors and lenders.
The lawsuit, submitted in November, tries to claw back About $ 1.76 billion in crypto that FTX transferred to Binance in July 2021 as part of a share purchasing agreement.
FTX had previously sold Binance an interest of 20% in 2019, which later bought it with a mix of BNB, busd and ftt-tokens.
The FTX Estate claims that the exchange was Insolvent at the time of the 2021 deal, and that the funds of the customer secretly darkened the return.
But Binance argues in the motion that FTX then remained “a Going Preice for 16 months”, making some claim from earlier insolvency unbelievable.
The lawsuit also claimed that Zhao used “malicious” Twitter to activate a wave of recording of customers, post November 6, 2022, that Binance would liquidate its FTT companies “due to recent revelations.”
“The tweets of November 2022 were placed in the days after a Bombshell report by Coindsk That blew off the lid from the FTX facade, and the complaint contains no facts to suggest that the tweets were incorrect, “Binance wrote and defended the tweets.
The stock market also said that the case had to be rejected due to a lack of personal jurisdiction, and said that none of the business decleas was established in the US and did not participate directly in the transfers.
The FTX Recovery Trust has submitted countless Clawback packages to restore assets after the Platforms collapsewho caused one of the greatest Crypto bankruptcy Billions of customer funds are missing in history and death.
Decrypt Will update the story if Binance responds to a request for comments.
Edited by Sebastian Sinclair
Daily debrief Newsletter
Start every day with the top news stories at the moment, plus original functions, a podcast, videos and more.