Binance founder Changpeng Zhao seeks dismissal from $1.8B FTX lawsuit

Key Points

1. Changpeng Zhao requested a court to dismiss FTX's lawsuit, which seeks to recover $1.8 billion from a share buyback deal FTX claims was fraudulently funded.

2. Zhao argued the lawsuit lacks jurisdiction as the transactions involved entities outside the US and he had no direct control over the transferred cryptocurrency.

3. FTX alleges that $1.8 billion in crypto was fraudulently transferred to Binance in 2021 to repurchase shares, a claim Zhao disputes.

4. Zhao denied that his social media posts about Binance selling FTT tokens contributed to FTX's collapse, stating FTX was already a fraudulent enterprise.

5. Binance previously sought dismissal of the lawsuit in May, calling it 'legally deficient' and attributing FTX's downfall to its own corporate fraud.