Binance founder Changpeng Zhao Seeks Dismissal of FTX Lawsuit

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Binance CEO Changpeng Zhao has filed a motion to dismiss the FTX estate’s $1.76 billion clawback lawsuit. He argues the Delaware court lacks jurisdiction, citing his UAE residency and the offshore nature of the transactions. The lawsuit stems from a 2021 share buyback between FTX and Binance, which FTX claims was fraudulent. Zhao’s legal team calls the claims baseless and states he was only a nominal party, asserting U.S. law should not apply to this international case.