Binance Seeks Dismissal of FTX Estate’s $1.76 Billion Clawback Lawsuit

Cryptocurrency exchange Binance has officially petitioned a US court to dismiss a $1.76 billion clawback lawsuit filed by the FTX estate. The lawsuit alleges that Binance illicitly benefited from FTX funds before its collapse. Binance denies any wrongdoing or legal violations in its dealings with FTX. The company asserts its commitment to transparency and full compliance with applicable laws and regulations. This case is considered a landmark in the cryptocurrency industry, setting a precedent for the liability of exchanges regarding customer funds. A court decision is expected at a later date.