Binance’s Witty Retort to FTX’s $1.76B Blunder: A Tale of Fraud and Folly

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Oh, the audacity of it all! Binance, in a motion to dismiss, has the temerity to call the FTX lawsuit “legally deficient.” As if the mere mention of such a sum could be anything but a delightful trifle. Binance, with all the grace of a swan gliding over troubled waters, claims there’s no real evidence linking it—or the ever-charming former CEO Changpeng Zhao—to the tragic downfall of FTX. 🦢💰

“FTX didn’t collapse because of Binance,” the filing argues, with all the conviction of a Victorian gentleman defending his honor. “It failed because of massive fraud by Sam Bankman-Fried.” One can almost hear the collective gasp of the crypto community. 🤔💔

FTX’s lawsuit, filed last November, targets a July 2021 crypto transfer to Binance. The deal, worth a mere $1.76 billion in digital assets, was tied to a share repurchase. A small matter, really, in the grand scheme of things. 🤷‍♂️💸

Binance, ever the paragon of virtue, insists the deal was legitimate and aboveboard. FTX, it claims, is now just trying to recover money lost through its own mismanagement. How quaint! 🍃🔍

And what of Sam Bankman-Fried, once hailed as a crypto visionary? Now, he serves a 25-year prison term, a guilty verdict hanging over him like a dark cloud. A jury found him guilty of defrauding FTX customers, lenders, and investors. A fall from grace if ever there was one. 🌩️🚫

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2025-05-20 14:57