Binance cryptocurrency exchange founder wants $ 1.8 billion lawsuit against FTX dismissed

Former Binance CEO Чанпен Чжао" href="https://noworries.news/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao (CZ) has announced his intention to seek dismissal of a $ 1.8 billion lawsuit against the bankrupt FTX platform. The corresponding lawsuit BinanceHoldingsLimitedetalDocketNo124ap5">was filed by in July, and its essence is to compensate for losses that, according to FTX, arose due to Binance’s actions on the eve of the exchange’s collapse.

The FTX lawsuit states that Binance and Zhao personally allegedly intentionally influenced the market and exacerbated the FTX liquidity crisis, which led to the platform’s subsequent bankruptcy. In addition, FTX is seeking compensation for the losses it suffered as a result of such market dynamics.

Changpeng Zhao’s lawyers insist that the accusations are unfounded and claim that the lawsuit should be dismissed. They argue that Binance’s actions were not deliberate and cannot be the cause of FTX’s financial problems, and the allegations of intentional pressure are not supported by concrete evidence.

Legal experts point out that the case is likely to drag on due to the complexity of the evidence base and the contradictory positions of the parties. The final decision to accept or reject the claim has not yet been made, and further developments will depend on the court’s position and additional materials that may be submitted by the parties.