Binance’s founder and former CEO Changpeng ZhaoDemanded the rejection of the $ 1.76 billion reimbursement case opened by the FTX bankruptcy table. Monday In the application made He claimed that the Delaware court did not have personal jurisdiction because he resided in the United Arab Emirates. The case, which was filed in November 2024, is based on a receipt agreement in July 2021. Zhao’s defense is that the allegations have exceeded the limits of American bankruptcy laws.
1.76 billion dollars of FTX bankruptcy table
FTX Bankruptcy Desk, Zhao and Binance, Old CEO Sam Bankman-FriedHe accuses about illegal confiscation of crypto currency transfers worth about $ 1.76 billion when he gets back the share taken from the shares. Allegedly, Binance received 20 percent of the global operations and 18.4 percent of the American subsidiary.
Ftx His lawyers argue that these transfers have entered the “fraudulent transfers” category and that Zhao and other executives are obliged to repay these funds. In the documents, BinanceIt was claimed that the FTX Coins in the hands of the FTX Coins and the crypto currencies given in return are transactions subject to securities. The court will decide whether the allegations can be moved beyond the US bankruptcy laws.
ZHAO’s “authority” objection
Zhao emphasized that he resided in the United Arab Emirates in his application to the court. Delaware courtHe said that he has no jurisdiction against him. In the text of the case, “the allegations of fraudulent transfer of the plaintiffs to extend the bankruptcy laws unjustly demanding” statements were given.
It was also claimed that these transactions were cross -border and the relevant American laws did not have the scope of the transnational scope. Similar to this objection, Samuel wengun port And Dinghua Xiao In July, he argued that the text of the case was contrary to the constitution with the objection of authority.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
