Changpeng Zhao has formally requested the dismissal of a $1.8 billion lawsuit filed by cryptocurrency exchange FTX, asserting that the allegations are unfounded and improperly targeted.
In his dismissal motion, Zhao contends that FTX was already operating as a fraudulent enterprise prior to its collapse and that his actions bore no responsibility for the exchange’s downfall. He further emphasized the litigation’s jurisdictional complexities involving entities across Ireland, the Cayman Islands, and the British Virgin Islands.
The former Binance CEO highlighted critical concerns regarding international legal jurisdiction, stressing the need for procedural clarity in the multi-territory case.