The ongoing crypto courtroom drama just got spicier. Binance founder and former CEO Changpeng Zhao (CZ) has officially moved to dismiss a massive $1.76 billion lawsuit filed by the team handling bankrupt exchange .
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💼 Why Is $FTT Suing CZ?
After its 2022 collapse, $FTT has been on a mission to claw back money it claims was wrongfully taken before its downfall. The bankruptcy administrators allege that:
Binance once held ~20% of $FTT Global.
When #CZBİNANCE sold that stake back, Binance received a large amount of FTT tokens and other crypto assets.
FTX says those assets were obtained improperly and the deal was legally flawed.
This all goes back to transactions made during the Sam Bankman-Fried (SBF) era, before FTX’s implosion.
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📄 CZ’s Main Arguments
In his filing with the US Bankruptcy Court in Delaware, CZ made four key points:
1. No US Jurisdiction – He lives in the UAE, so he says the Delaware court has no legal authority over him.
2. International Deals – The disputed transactions were cross-border, meaning US bankruptcy laws shouldn’t apply.
3. Legitimate Trade – Binance gave up its FTX shares in return for assets. #chan insists that’s a valid business swap, not wrongdoing.
4. Not My Mess – SBF’s fraud and collapse were his own doing, and CZ says he shouldn’t be blamed for it.
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🔍 The CZ–SBF History
It all started friendly. Binance was an early FTX investor, but later sold its stake back. After that, relations soured fast. By the time FTX collapsed in 2022, both sides were trading accusations.
FTX’s administrators call the Binance deal “corrupt” and “in bad faith.”
CZ calls the whole lawsuit “baseless” and “politically motivated.”
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⚖️ What Happens Next?
The Delaware court will first decide if it even has jurisdiction.
If not → Case dismissed.
If yes → CZ is in for a longer, high-profile legal battle.
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🧩 Two CEOs, Two Very Different Outcomes
CZ – Served 4 months in US prison for anti-money laundering violations; now free.
SBF – Serving 25 years for fraud.
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📌 Bottom line: #CZBİNANCE wants this case thrown out before it even starts. Whether the court agrees could decide if this becomes another drawn-out crypto trial or a quick legal win for Binance’s founder.
