One of crypto’s most explosive legal clashes just escalated. Former Binance CEO Changpeng Zhao (CZ) has officially filed to dismiss the $1.76 billion lawsuit brought against him by the bankrupt estate of $FTX — and he’s not holding back.
💼 Why Is CZ Being Sued?
FTX’s new administrators claim Binance received “ill-gotten gains” when selling back its 20% stake in FTX Global. They're pointing to FTT tokens and other assets as part of a suspicious deal during the SBF era.
📄 CZ’s Defense — Bold and Clear
No U.S. Jurisdiction: CZ lives in the UAE and says Delaware courts can’t touch him.
Cross-Border Transactions: Most deals happened internationally, outside U.S. legal reach.
It Was a Fair Trade: Binance gave back FTX shares and received assets in return — legally.
Not My Crime: He distances himself from SBF’s fraud, saying he had no part in the collapse.
🔍 A Fractured History
Binance and FTX started as partners — until Binance sold its stake back. Things turned ugly quickly, especially when FTX imploded in 2022. Now, FTX’s team calls the deal “corrupt,” while CZ says it’s all “politically motivated.”
⚖️ What’s Next?
The Delaware court will decide whether it even has the right to hear the case. If not, CZ walks free from this lawsuit. If it proceeds, expect a legal marathon.
🧩 Meanwhile…
CZ: Served 4 months for U.S. AML violations — now free.
SBF: Locked up for 25 years for fraud
The crypto battlefield just got hotter. 🌐
#CZBinance #FTXvsBinance #USFedBTCReserve #BTCUnbound #CFTCCryptoSprit