CZ Fights Back: Binance Founder Seeks Dismissal of FTX Lawsuit in High-Stakes Crypto Clash

Binance founder Changpeng Zhao is throwing punches in court—filing to dismiss FTX's lawsuit as the crypto giants' legal battle intensifies.

The move comes as the industry watches closely, with billions in market cap hanging in the balance. Zhao's legal team argues the lawsuit reeks of desperation from FTX's bankruptcy estate.

Meanwhile, traders shrug—another day in crypto's wild west where the only certainty is volatility. Just don't mention the lawyers getting rich either way.

Binance CEO Changpeng Zhao has filed a motion to dismiss the FTX estate’s $1.76 billion clawback lawsuit. He argues the Delaware court lacks jurisdiction, citing his UAE residency and the offshore nature of the transactions. The lawsuit stems from a 2021 share buyback between FTX and Binance, which FTX claims was fraudulent. Zhao’s legal team calls the claims baseless and states he was only a nominal party, asserting U.S. law should not apply to this international case.