Adam Moskowitz, who has been the lead lawyer in a lot of civil instances involving crypto corporations, filed a movement to take a deposition from former Binance CEO Changpeng “CZ” Zhao.

In a Dec. 8 submitting in United States District Court docket for the Southern District of Flordia Miami Division, Moskowitz stated Zhao’s testimony could be “essential to the claims and defenses of all events” concerned. The regulation agency filed the movement as a part of a $1 billion lawsuit against Zhao, Binance, and crypto influencers, which a courtroom ordered stayed in August.


Moskowitz and his agency have represented a number of purchasers in instances in opposition to high-profile crypto corporations and associated entities. He was counsel for a lot of victims of the collapse of FTX in a lawsuit targeting celebrities who promoted the crypto alternate, in addition to a swimsuit claiming investors suffered losses from soccer star Cristiano Ronaldo touting Binance’s nonfungible tokens.

“Sometimes, as a result of CZ is a named defendant, we might simply ship a discover for his deposition,” Moskowitz informed Cointelegraph. “In our case, all of us agreed to attend on discovery, till the decide guidelines on Binance’s demand that we litigate our class motion earlier than the AAA arbitration affiliation. Regardless [of] the place we find yourself, CZ’s testimony will likely be essential for all events.”

The crypto lawyer stated the submitting got here in response to a Washington decide ordering Zhao to remain within the U.S. till his sentencing in February 2024. In November, U.S. authorities introduced a $4.3 billion settlement with Binance during which CZ stepped down as CEO and pleaded responsible to at least one felony cost.

“[W]e don’t know how lengthy CZ will likely be sentenced to jail, could possibly be 60 years or no years, we have been definitely not concerned within the discussions between CZ and the federal government,” stated Moskowitz. “If he will get no jail time, he definitely flees again to UAE. If he will get jail time, it’s not simple to rearrange and require a deposition from jail.”

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In line with Moskowitz, Zhao’s pleading responsible to federal costs, which alleged a scarcity of safeguards throughout his time as Binance CEO, may help a few of the plaintiffs’ claims within the civil swimsuit. The case alleged Binance promoted unregistered securities, although the U.S. Securities and Trade Fee — the physique overseeing securities — was not a party to the settlement with Zhao, Binance, and the federal government.

He added:

“The SEC definitely has not slowed down their very own litigation vs. CZ and Binance and nonetheless allege that the BNB token is an unregistered safety, so there are $4 billion in alleged values, that basically could possibly be zero in a single minute.”

It’s unclear whether or not a decide will grant Moskowitz’s movement given Zhao is not CEO of Binance and has stepped again from its management. Cointelegraph reached out to Binance, however didn’t obtain a response on the time of publication.

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