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Binance founder Changpeng Zhao seeks dismissal of FTX estate's $1.76 billion clawback lawsuit
Changpeng Zhao, cofounder and former CEO of Binance, has asked a U.S. bankruptcy court to dismiss claims in a lawsuit brought by the FTX bankruptcy estate, which is seeking to recover $1.76 billion allegedly exchanged between the two entities. In a filing submitted Monday, Zhao argued that his residency in the UAE places him beyond Delaware's legal jurisdiction. The filing also cited the cross-border nature of the disputed transactions, arguing that the relevant U.S. statutes lack extraterritorial reach. "Plaintiffs' fraudulent transfer claims improperly demand the extension of bankruptcy law abroad," the filing said. ... (full story)
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