Adam Moskowitz has filed a motion for the deposition of Changpeng “CZ” Zhao, the former CEO of Binance. This legal move is part of a $1 billion lawsuit involving Zhao, Binance, and various crypto influencers.
The case temporarily stayed in August sees Zhao’s testimony as pivotal for the claims and defenses of all parties involved.
Zhao’s Potential Impact on the Case
Moskowitz’s motion, filed in the United States District Court for the Southern District of Florida, emphasizes Zhao’s unique position at the heart of the lawsuit. Despite stepping down as CEO of Binance and distancing himself from its current leadership, Zhao’s insights are critical for the ongoing litigation.
This development follows a Washington judge’s order requiring Zhao to remain in the U.S. until his sentencing in February 2024, connected to a separate $4.3 billion settlement with Binance where Zhao pleaded guilty to a felony charge.
The decision to approve the deposition motion is pending, with the outcome potentially influencing the direction of the lawsuit.
This case highlights the intricate relationship between cryptocurrency operations and regulatory compliance, underlining the importance of legal scrutiny in the digital asset space.
Also Read: Binance’s Former CEO CZ Faces Potential 10-Year Prison Term
