The largest cryptocurrency exchange of the world Binance appealed to the Court of Delaware with a request to reject the lawsuit with the requirements of $ 1.76 billion, filed by the temporary administration of the bankrupt exchange of FTX.

The FTX liquidation commission announced financial claims to Binance in November 2024, substantiating the claim by the fact of the failed promotion transaction. The FTX Provisional Administration claims that Binance and its former CEO of Changpeng Zhao received $ 1.76 billion from the company Alameda Research, associated with the FTX, during the period when the FTX was no longer paid.

According to the plaintiffs, this transaction not only damaged FTX creditors, as the funds were withdrawn in favor of the competitor in anticipation of the collapse of the exchange in November 2022, but also became part of the fraudulent scheme, which weakened the financial situation of the FTX, accelerating the collapse of the company.

Binance, in turn, insiststhat the lawsuit of the temporary administration of the FTX is legally insolvent and represents an unsuccessful attempt to shift responsibility for the failure of its activities to competitors. The exchange of the exchange emphasizes that the transaction with Alameda Research was legal and is not related to the internal problems of the FTX. Binance lawyers claim that the American court does not have jurisdiction on their international operations, and fraud charges are not supported by facts. The exchange also insists that FTX collapse was caused by internal violations and ineffective management by the founder of Sam Bankman-Fried, not Binance, Bankman-Fried.

Earlier, the FTX Recovery Trust Foundation has announced the second phase of the distribution of funds – on May 30, the exchanges will pay more $ 5 billion to the affected creditors. Those whose applications for the return were approved.