Binance filed a motion to remove a $ 1.76 billion lawsuit brought by the FTX Estate, accusing the defunct crypto exchange of the test to break the blame on its own failure.
Filed On May 16 at the Delaware Bankruptcy Court, Binance’s legal team called the “Legal Lack,” stating that the FTX’s collapse was no longer a market manipulation or hostile action but by internal misconduct.
“Plaintiffs pretend that the FTX has not fallen as a result of one of the most massive corporate fraud in history,” said the filing, teaching Sam “SBF” bankman-fried belief in seven counts of fraud and conspiracy.
FTX’s property announces that Binance received billions of crypto during the 2021 purchase deal, funded improperly with customer ownership.
Binance rejected this claim, saying that “FTX has remained a reminder within 16 months” after the re -purchase of the part and with no “unexplained claim” the exchange is not destroyed at that time.
Related: Binance wants arbitration for all security class suits
Zhao’s tweet and FTT crashing
Also accused of lawsuit Former Binance CEO Changpeng Zhao of the trigger of a collapse by a tweet on November 6, 2022 announcing the extermination of FTT tokens.
In response, Binance argued that Zhao’s tweet was based on public concerns. “Binance’s decision to liquid the rest of its FTT was, in fact, ‘due to recent revelations’ – in particular, November 2, 2022, CoinDesk article” exposed the sheet balance of Alameda Research.
The company further defended Zhao’s comment that Binance aims to reduce market impact. “The complaint contains no facts” to prove Binance has no intention of following.
Challenging the court’s jurisdiction, Binance said none of the foreign creatures named “incorporated or maintained their chief business area in the United States,” and thus falls outside the court’s reach.
File also criticizes the plaintiff’s statement as “a grab bag of state law claims” based on “pure speculation -most of them are derived from a conceptual conceptuality.”
Binance asked the court to remove all claims with prejudice. The FTX estate has not yet filed its response.
Related: FTX EU Creditors can now withdraw money from backpack exchange
FTX to drop $ 5 billion in second cycle of Creditor’s payments
Ftx ay Set to start the second round of payments to creditors more than two years after filing for losses.
In a notice of May 15, the FTX Recovery Trust announced that more than $ 5 billion will be shared starting May 30 by BitGo and Kraken, who target parties to the second -eligible group under the repair plan plan.
According to the plan, five groups of lenders who are categorized as “comfort classes” are expected to receive between 54% and 120% of their claims. In total, the FTX can pay up to $ 16 billion, depending on the final number of valid claims.
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