Former Binance CEO Changpeng Zhao, widely known as CZ, has submitted a legal motion to the bankruptcy court in Delaware, United States, seeking the dismissal of a $1.76 billion claim filed by the FTX estate.

The dispute stems from the collapse of FTX, once one of the largest cryptocurrency exchanges in the world. The FTX estate, currently undergoing bankruptcy proceedings, alleges that Binance and CZ were involved in actions that caused financial damages amounting to billions of dollars. However, CZ’s legal team argues that the claims are baseless and should be dismissed entirely.

This legal battle adds another chapter to the ongoing turbulence within the global cryptocurrency industry, which has seen multiple high-profile lawsuits following the downfall of major exchanges. Analysts suggest that the case could set important precedents for how inter-exchange disputes are resolved in the future.

Despite stepping down as Binance CEO, CZ remains an influential figure in the crypto world. His decision to challenge the FTX estate’s claim underscores his commitment to defending both his personal reputation and Binance’s role in the broader blockchain ecosystem.