Binance Asks Court to Dismiss $1.76B FTX Lawsuit Because, Apparently, They Did Nothing Wrong

Ah, the drama of the crypto world! Binance, the titan of digital currencies (or as some call it, the “I don’t know what I’m doing, but I have billions” company), is now battling a $1.76 billion lawsuit from the FTX estate. Yes, you read that right—$1.76 billion. That’s not just a lawsuit, that’s a small country’s GDP.

The lawsuit revolves around a 2021 equity buyback deal, which is probably the kind of deal you make when you’re feeling frisky on a Tuesday and have a few too many cocktails. Binance is asking a Delaware court to toss this legal drama aside like a bad Tinder date. Why? Because Binance says the case is “legally flawed”—a phrase that sounds like something a lawyer types out when they’re 30 seconds away from quitting their job and opening a bakery.

FTX, on the other hand, claims that it had no choice but to use customer funds to buy back Binance’s stake. You know, as you do when you’re trying to cover up a whole host of mistakes. But Binance’s lawyers aren’t having any of it. They argue the accusations are “based on weak assumptions”—which, when you think about it, is basically a nice way of saying, “you don’t have a leg to stand on.”

But wait, there’s more! Binance is not just playing defense here—they’re also throwing some serious shade at FTX. According to Binance, FTX is just trying to blame its collapse on anyone and everyone except for its founder, Sam Bankman-Fried, who’s currently enjoying a 25-year stay in the “luxury accommodations” of a federal prison. Binance says FTX is trying to shift the blame away from Sam’s little fraudster escapade, which they’ve helpfully described as “one of the biggest corporate frauds in history.”

So, in short, Binance is denying any wrongdoing, claiming it had nothing to do with FTX’s crash, and offering a front-row seat to this legal circus. Honestly, at this point, it’s like a bad reality show—except nobody’s getting voted off the island. Instead, they’re all just sitting in court, watching their billions swirl down the drain. 🤑💸

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