Binance, Billionaire Zhao to Seek Dismissal of CFTC Lawsuit (1)

Binance Holdings Ltd., its founder Changpeng Zhao and the crypto exchange’s former Chief Compliance Officer Samuel Lim plan to seek the dismissal of a Commodity Futures Trading Commission lawsuit.

The response to the CFTC complaint is due July 27 and the defendants intend to submit motions to dismiss, according to a court filing on Monday. They also sought permission to exceed a 15-page limit on supporting briefs, citing the complexity of the case and the number of arguments they anticipate making.

Changpeng Zhao.

Photographer: Zed Jameson/Bloomberg

The CFTC in March alleged that Binance and CEO Zhao, also known as CZ, routinely broke US ...