Binance CEO brushes off $2.1 billion FTX clawback concerns

“Would you be able to handle it if somebody asked you for $2.1 billion back,” Quick asked him.

“We are financially OK,” Zhao said, evading a straight answer.

If bankruptcy proceedings can establish that a payment was made through proceedings of fraud or that an individual should have reasonably known that a payment was fraudulent, any beneficiary in a two-year lookback window can have their gains clawed back by the trustee, according to the U.S. bankruptcy code. “Are you prepared to send that money to them?” Sorkin asked Zhao.

“I think we’ll leave that to the lawyers. I think our legal team is perfectly capable of handling it,” Zhao responded before attempting to pivot away to FTX’s well-documented spending habits.

Source: Binance CEO brushes off $2.1 billion FTX clawback concerns