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Binance’s CZ Seeks Dismissal of FTX’s $1.76B Lawsuit

Solomon M. by Solomon M.
August 6, 2025
in Latest News
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Key Points:
  • Binance’s CZ challenges $1.76B lawsuit over jurisdiction.
  • Court filing disputes U.S. legal reach.
  • Lawsuit involves offshore transactions outside U.S.
binances-cz-seeks-dismissal-of-ftxs-1-76b-lawsuit
Binance’s CZ Seeks Dismissal of FTX’s $1.76B Lawsuit

Binance co-founder Changpeng Zhao has moved to dismiss a $1.76 billion lawsuit filed by the FTX bankruptcy estate in the Delaware U.S. Bankruptcy Court, asserting lack of jurisdiction.

MAGA

The court decision will impact cross-border financial regulations and set precedents for similar cryptocurrency-related lawsuits involving international transactions.

Changpeng Zhao (CZ), co-founder of Binance, has moved to dismiss a $1.76 billion lawsuit filed by the FTX bankruptcy estate, citing jurisdictional issues in the U.S. court. The transactions in question occurred outside U.S. jurisdiction.

In the court filing, CZ argues that neither he nor Binance was the primary party to the transaction, highlighting offshore locations of disputed transactions. Zhao described himself as “only a ‘nominal counterparty’ in the transaction—meaning he wasn’t even the main party behind the deal”: source. Two former Binance executives have also sought dismissal citing similar jurisdictional arguments earlier.

The lawsuit aims to reclaim $1.76 billion related to Binance’s previous equity holdings in FTX. These transactions involved funds from Alameda Ltd., based in the British Virgin Islands. The jurisdictional dispute focuses on the international nature of the transactions.

No direct market impact has been observed. Updated dashboards and trackers show no significant changes in liquidity or asset prices. Jurisdictional challenges like this have historical precedence in crypto bankruptcy cases.

Similar past lawsuits against cross-border assets have often faltered due to jurisdictional issues. FTX’s related lawsuits have rarely succeeded when involving non-U.S. entities. This pattern may influence the current case’s potential outcome.

Insights from historical legal disputes suggest that actual enforcement of the clawback might face hurdles. Jurisdictional challenges in cryptocurrencies show a pattern of evasive success when non-U.S. entities are involved, raising potential implications for future regulatory frameworks.

Disclaimer:

The content on The CCPress is provided for informational purposes only and should not be considered financial or investment advice. Cryptocurrency investments carry inherent risks. Please consult a qualified financial advisor before making any investment decisions.

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Binance Co-founder CZ Seeks Dismissal of $1.76B FTX Lawsuit

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