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Binance Files Motion To Drop FTX’s $1.76 Billion Clawback Lawsuit

  • Binance has filed a motion to dismiss a $1.76 billion clawback lawsuit from the estate of the now-defunct FTX exchange.
  • Binance argues that the claim lacks merit and the court has zero jurisdiction over the case.
  • The legal battle revolves around the 2021 transaction where FTX repurchased a stake from Binance, leading to allegations of causing FTX's collapse.
  • FTX estate believes CZ's public comments caused their downfall, while Binance's legal team argues lack of personal jurisdiction and denies involvement in the collapse.

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