LayerZero Labs CEO Responds to FTX Lawsuit: Allegations of Unsupported Claims

LayerZero Labs CEO Responds to FTX Lawsuit: Allegations of Unsupported Claims



Bryan Pellegrino, co-founder and CEO of LayerZero Labs, responded to the lawsuit filed by the FTX estate earlier today, which aimed to recover tens of millions of dollars from agreements made between the two companies.



In a post on X, formerly known as Twitter, Pellegrino stated, "Regarding the FTX suit, the entire lawsuit is filled with unsupported allegations." He mentioned that LayerZero Labs, a cross-chain protocol, has actively attempted to resolve the issue of share ownership with FTX's liquidators for nearly a year but has received no response.



Pellegrino added, "Seeing them wait this long to file a lawsuit filled with unsupported claims leads me to believe their intent is not to resolve the issue but simply to prolong the process in the hope of accruing more legal fees."



The FTX estate, led by CEO John Ray III, filed a


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