Binance has filed a motion to dismiss FTX’s $1.76 billion lawsuit in the Delaware Bankruptcy Court, highlighting ongoing legal and financial scrutiny surrounding the cryptocurrency exchange’s collapse. The action underscores key points in the lawsuit: Binance is challenging FTX’s claims of insolvency and seeking dismissal on jurisdictional grounds, arguing that the Delaware court lacks authority over foreign entities. The lawsuit stems from FTX’s failed July 2021 share buyback agreement with Binance. Binance argues that FTX’s collapse resulted from internal fraud, while FTX seeks to recover $1.76 billion in cryptocurrency. This dispute has significant market implications as the funds involved affect BNB, BUSD, and FTT tokens. The case also showcases how the legal battle unfolds during a broader regulatory scrutiny of the cryptocurrency sector.