Zhao Seeks Dismissal of FTX Lawsuit Over $1.8 Billion ClaimChangpeng Zhao, the former CEO of Binance, has requested a Delaware bankruptcy court to dismiss FTX's lawsuit, which aims to recover nearly $1.8 billion from a transaction between the two exchanges. FTX alleges that this amount was fraudulently transferred to Binance. Zhao contends that the lawsuit unfairly attributes blame to him for actions taken by FTX's founder, Sam Bankman-Fried, who is currently serving a 25-year prison sentence for fraud. He argues that the claims are irrelevant to U.S. law, as the transactions occurred outside the country. FTX's lawsuit, filed in November, claims that customer funds were misused to finance a share repurchase that FTX could not afford. Zhao's legal team asserts that he was merely a nominal participant in the transaction and did not control the cryptocurrency involved. They further argue that Zhao's social media posts did not contribute to FTX's collapse, which they describe as a fraudulent operation. Zhao previously sought to dismiss the lawsuit, labeling it legally flawed.