Binance Lawyers Ask Court to Throw Out $1.76B FTX Lawsuit Case
Binance is fighting a $1.76 billion lawsuit from the FTX estate, seeking a Delaware court to dismiss it . The case centres on a 2021 equity buyback deal between the two crypto exchanges, which took place over a year before FTX collapsed. Binance argues the lawsuit is “legally flawed” and should be dismissed. FTX says it used customer funds without permission to repurchase Binance’s stake. But Binance’s lawyers claim the accusation is based on weak assumptions and lacks evidence. Binance Accuses FTX of Avoiding Accountability In its court filing, Binance argued that FTX is trying to shift blame away from its founder, Sam Bankman-Fried, who is serving a 25-year prison sentence for fraud. Binance claims the lawsuit ignores the real reason for FTX’s failure, calling it “one of the biggest corporate frauds in history.” The company also said it had no role in FTX’s collapse and emphasized that none of… Read More at Coingape.com
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