Binance seeks to dismiss $1.76B FTX lawsuit, blames SBF for collapse ⚖️
Binance has filed a motion to dismiss a $1.76 billion lawsuit brought by the FTX estate, accusing the defunct crypto exchange of deflecting blame for its failure. Binance's legal team argues FTX's collapse was due to internal misconduct, not Binance's actions.
The FTX estate alleges Binance received billions during a 2021 buyback deal, improperly funded with customer assets. Binance contends there was 'no plausible claim' of insolvency at the time.
Binance also disputes claims that a tweet by Changpeng Zhao triggered the FTT token's collapse, stating his actions were based on publicly known concerns.
Furthermore, FTX is set to begin disbursing over $5 billion to creditors, marking the second round of repayments since its bankruptcy filing.
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