The crypto industry is buzzing again! CZ has taken a firm stand — directly applying to the court to dismiss the $1.76 billion claim from the FTX trust, and that's no small amount.

The matter dates back to November 2024, when the FTX trust accused CZ of issues with the $1.76 billion in cryptocurrency transferred to Binance during the share buyback in July 2021, claiming that Alameda, responsible for the transaction, was already insolvent at that time, which constitutes a "fraudulent transfer." They also alleged that CZ's tweets were false and misleading, directly causing a bank run on FTX, accelerating the downfall of the exchange.

However, CZ did not hold back, stating: I am in the UAE, and the Delaware court has no jurisdiction over me. Moreover, I was just a "nominal counterparty" in the transaction; why should Binance be held responsible for the mess created by Bankman-Fried? Binance also declared that the accusations are completely unfounded and are purely speculative, asserting that at the time of the transaction, FTX was not in a clearly insolvent state, and they are determined to fight back.

In short, both sides are sticking to their claims, and it remains to be seen how the court will rule in the end. This tug-of-war over more than $1.7 billion is likely to continue for a while.