CZ Calls $1.8B FTX Lawsuit Nonsensical, Says U.S. Court Has No Jurisdiction

## CZ Responds to $1.8B FTX Lawsuit with a Motion to Dismiss

Changpeng Zhao (CZ), the renowned figure in the crypto world and former CEO of Binance, has made a bold move by filing a motion in the Delaware bankruptcy court to quash a $1.8 billion lawsuit brought against him by FTX. The lawsuit revolves around a share repurchase agreement that took place in 2021 between FTX and Zhao, raising legal tensions in the cryptocurrency realm.

### The Legal Battle Unfolds

In his defense, CZ argues that as a resident of the United Arab Emirates (UAE), the U.S. court lacks jurisdiction over the matter at hand. He contends that the lawsuit initiated by FTX is baseless and nonsensical, aiming to challenge the legitimacy of the claims brought against him.

### The Intricacies of Jurisdiction

The dispute hinges on the fundamental question of jurisdiction and the applicability of U.S. legal authority in cross-border transactions in the digital asset space. CZ’s strategic move to challenge the jurisdiction of the U.S. court underscores the complexity and the evolving landscape of regulations governing global cryptocurrency transactions.

### Conclusion

As the legal saga between CZ and FTX unfolds, the outcome of this high-stakes battle will undoubtedly shape the future legal landscape for crypto transactions worldwide. Stay tuned for further developments as the legal tussle plays out in the Delaware bankruptcy court.

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