Altcoins News
By Evie Vavasseur
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CZ’s Motion to Dismiss. In the motion, CZ stated that he is a resident of the United Arab Emirates and not subject to the…
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Background of the Lawsuit. The lawsuit in question was filed by the FTX estate in November 2024.
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Accusations of Shifting Blame. Zhao’s latest motion didn’t hold back, accusing FTX’s legal team of trying to pin its collapse on…
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Legal Trouble on All Sides. The courtroom clash comes as both CZ and Bankman-Fried continue to face the legal consequences of…
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What’s Next?. As the motion to dismiss works its way through the U.S.
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Former Binance CEO Changpeng "CZ" Zhao is pushing back against a $1.76 billion lawsuit filed by the bankrupt FTX estate, asking a U.S.
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This legal dispute stems from a share purchase agreement signed in 2021, when Binance sold its equity stake in FTX back to the company for $1.76 billion.
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Zhao further argued that the lawsuit holds minimal relevance to the United States, emphasizing that the regulations cited by FTX do not apply outside the country.
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This is not the first time Binance or Zhao have sought to dismiss the lawsuit. In May, Binance also filed a motion challenging FTX’s claims, asserting that the now-defunct…
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The lawsuit in question was filed by the FTX estate in November 2024. It targets both Binance and CZ, claiming that the 2021 share buyback deal involved funds that should not…
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According to the filing, the FTX trust is seeking to recover the full $1.76 billion amount under bankruptcy law provisions related to fraudulent transfers.
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A Binance spokesperson previously called the claims “meritless,” stating that the exchange would vigorously defend itself in court.
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Zhao’s latest motion didn’t hold back, accusing FTX’s legal team of trying to pin its collapse on external actors. “The FTX trust nonsensically blames Mr.
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It added that many of the legal arguments were incoherent or failed to meet the standards necessary to qualify as valid claims under federal law.
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The courtroom clash comes as both CZ and Bankman-Fried continue to face the legal consequences of their roles in the crypto industry’s most high-profile failures.
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