CZ petitions to dismiss FTX Trust's $1.76 billion claim against it

CZ is asking the Delaware Bankruptcy Court to dismiss a claim brought by FTX Trust for $1.76 billion, which it says was improperly transferred to Binance by Sam Bankman-Fried.
CZ said in a motion filed on Monday that it was a resident of the United Arab Emirates and that the trust could not prove that it was within the jurisdiction of the state of Delaware, stressing that the claim had little to do with the US and that the statute had no extraterritorial application.
Previously, the trust and FTX Digital Markets sued Binance and several executives over a share repurchase agreement with SBF in July 2021. In July, two former Binance executives had applied to be removed from the lawsuit. CZ said it was only a "nominal counterparty" to the transaction, accusing FTX of "unjustifiably" blaming Binance for the bankruptcy.
He also pointed out that serving US lawyers on foreign defendants is improper and would invalidate the complaint. CZ also said that US bankruptcy law does not explicitly apply to foreign money transfers.