CZ Seeks Dismissal Of “Nonsensical” $1.76B FTX Clawback Lawsuit

Former Binance CEO Changpeng ‘CZ’ Zhao has filed a motion to dismiss a lawsuit from FTX that aims to recover nearly $1.8 billion. Sam Bankman-Fried’s FTX filed a lawsuit against its competitor Binance and CZ on 10 November 2024. The lawsuit seeks damages, accusing Binance of playing a key role in it’s downfall. However, according.. The post CZ Seeks Dismissal Of “Nonsensical” $1.76B FTX Clawback Lawsuit appeared first on 99Bitcoins.

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Aug 6, 2025 - 19:00

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Former Binance CEO Changpeng ‘CZ’ Zhao has filed a motion to dismiss a lawsuit from FTX that aims to recover nearly $1.8 billion.

Sam Bankman-Fried’s FTX filed a lawsuit against its competitor Binance and CZ on 10 November 2024. The lawsuit seeks damages, accusing Binance of playing a key role in it’s downfall.

However, according to a 4 August 2025 filing on Zhao’s behalf, “Plaintiffs nonsensically blame Mr Zhao and others for Mr Bankman-Fried’s failings.”

Zhao calls the claim “legally unfounded” and “outright incoherent.” His legal team insisted that “while Plaintiffs and Binance were rivals, they were also briefly business partners when the Binance Defendants owned about a 20% stake in FTX Trading. But Zhao and Bankman-Fried could not work together, and the parties separated.”