EddieJayonCrypto
21 May 25
Binance has filed a motion to dismiss FTX’s $1.76 billion lawsuit, arguing the US court lacks jurisdiction and the allegations are speculative and legally flawed. Binance contends that none of the defendants reside in the US, the agreements are governed by Hong Kong law, and Binance entities were no...
Binance has filed a motion to dismiss FTX’s $1.76 billion lawsuit in a US court, arguing that the court lacks jurisdiction and that the allegations are speculative and legally flawed.Binance contends that none of the defendants reside in the US and that the agreements in question are governed by Hong Kong law. The company also states that Binance entities were not parties to the original contracts, weakening FTX’s jurisdictional claims.Disputing FTX’s assertion of insolvency at the time of the transactions, Binance argues the claim is based on unproven assumptions and points out that FTX’s collapse resulted from significant corporate fraud rather than the alleged transactions.Regarding accusations aimed at CEO Changpeng Zhao, Binance denies that his social media posts triggered a bank run. The exchange maintains Zhao’s tweets were accurate and not intended to mislead the public.Binance further explains that its liquidation of FTT holdings was motivated by market risk and the need to protect its own business amid the fallout from FTX’s alleged fraud, not by any intent to harm FTX.In sum, Binance’s motion highlights jurisdictional issues, challenges the legal foundation of FTX’s claims, and rejects the proposed causal link between Binance’s actions and FTX’s collapse.