Binance, founder Zhao win dismissal of lawsuit by victims of 64 attacks
The Hindu
In court papers, Binance and Zhao said they condemned terrorism.
A U.S. federal judge on Friday dismissed a civil lawsuit seeking to hold Binance, the world’s largest cryptocurrency exchange, and founder Changpeng Zhao liable for transactions that allegedly helped terrorist groups conduct 64 attacks around the world.
U.S. District Judge Jeannette Vargas in Manhattan said the 535 plaintiffs, including victims and relatives of victims, did not plausibly allege that the defendants “culpably associated themselves with these terrorist attacks, participated in them as something they wanted to bring about, or sought by their actions to ensure their success.”
The plaintiffs said the attacks occurred between 2017 and 2024, and attributed them to what they called foreign terrorist groups (”FTOs”) including Hamas, Hezbollah, Iran’s Revolutionary Guard, Islamic State, Kataib Hezbollah, Palestinian Islamic Jihad and al Qaeda.
They sought to hold Binance and Zhao liable for the alleged transfer of hundreds of millions of dollars of cryptocurrency to and from the FTOs, and billions of dollars of alleged transactions with Iranian users that benefitted proxies who conducted the attacks.
Vargas said that while Binance and Zhao may have been generally aware of the exchange’s role in terrorist financing, their only relationship to the FTOs was that “they, or their affiliates, had accounts on, and have transacted on, the Binance exchange in an arms’ length relationship.”
The judge also called the length of the plaintiffs’ 891-page, 3,189-paragraph complaint “wholly unnecessary” despite the “weighty” allegations. She said the plaintiffs may amend their complaint.
India's merchandise exports remain flat in February, with Commerce Secretary warning of a potential dip in March due to trade constraints.
Hard Rock International closes 10 outlets in India, including three cafes in Bengaluru, while Goa hotel remains open.
The booming market for artificial intelligence servers brought Taiwan's Foxconn a 24 percent jump in annual net profit, the company said
In a statement on its website, Adobe said it has in recent years streamlined its sign-up and cancellation processes and made them more transparent.
Stock markets recover as Sensex and Nifty bounce back following a three-day slump, driven by value-buying in blue-chip stocks.
U.S. President Donald Trump’s administration is set to receive a roughly $10 billion fee from investors in the recently completed deal to take control of TikTok’s U.S. business, the Wall Street Journal reported
Meta is planning sweeping layoffs that could affect 20% or more of the company, three sources familiar with the matter told Reuters
Learn how to choose the best personal loan lender by evaluating eligibility, interest rates, and borrowing experience.
Discover why pension planning is essential in modern India to ensure financial security and peace during retirement.
The U.S. has launched two investigations under Section 301 of the Trade Act of 1974 against India and other economies to examine practices that may be ‘unreasonable or discriminatory and burden or restrict U.S. commerce’. One probe examines whether countries, including India, are using excess manufacturing capacity to export to the U.S. in a manner that hurts American businesses, while another looks at whether countries have taken ‘sufficient steps’ to prohibit imports of goods produced with forced labour.
NHAI raises annual pass fee to ₹3,075 from April 1, 2026, streamlining toll payments for FASTag users.
The U.S. probes forced labour in global supply chains, scrutinizing China and India's exports, warns the Global Trade Research Initiative.
The Hindu collection of images of the LPG crisis: War lights a kitchen fire