Binance Hits Back at FTX’s $1.76B Lawsuit, Blames Collapse on “Historic Fraud”

May 20, 2025 04:00 pm Cryptocurrency 179

Key Takeaways:

Binance moves to dismiss FTX’s $1.76B lawsuit, calling it “legally deficient” and blaming FTX’s internal fraud.

The lawsuit stems from a 2021 buyback deal, with FTX alleging misuse of customer funds.

Binance defends CZ’s 2022 tweet as a reaction to public reports, not an act of market manipulation.

Binance has formally responded to the FTX estate’s $1.76 billion lawsuit with a sharp rebuttal, filing a motion to dismiss the case entirely. The exchange says the claims are not only meritless but also an attempt to rewrite the history of FTX’s collapse—a downfall it attributes to Sam Bankman-Fried’s massive fraud, not any external influence.

FTX’s Buyback Allegations and Binance’s Response

In 2021, FTX repurchased a 20% stake previously sold to Binance for $1.76 billion, paid in a mix of BNB, BUSD, an ..

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