The former CEO of the crypto titan Binance is reportedly taking action to terminate the lawsuit filed by the bankruptcy estate of the collapsed digital asset exchange FTX.
In November, the FTX trust and FTX Digital Markets filed a suit against Binance, the exchange’s co-founder Changpeng Zhao and several other executives over a July 2021 share repurchase deal with FTX founder Sam Bankman-Fried.
Bloomberg reports that Zhao is now asking the US Bankruptcy Court for the District of Delaware to dismiss the claims seeking to claw back $1.76 billion that the trust and FTX Digital Markets say were improperly transferred by Bankman-Fried.
In a motion to dismiss filed on Monday, Zhao says the court does not have personal jurisdiction over him because of improper and
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!