Binance and CZ Subpoena Kevin O’Leary in $1.76…
By Karthik Subramanian
AI summary of the source article
Binance and founder Changpeng Zhao have subpoenaed television investor Kevin O'Leary, author Michael Lewis, and others. The subpoenas are part of their defense against a $1.76 billion lawsuit brought by the FTX Recovery Trust over a 2021 share repurchase.
Why it matters
The dispute is significant for FTX creditors because successful recovery of the contested funds could increase assets available for distribution. Conversely, a ruling favoring Binance would limit the estate's ability to reclaim the 2021 payment.
Key facts
- Binance and Changpeng Zhao issued subpoenas to Kevin O'Leary, Michael Lewis, Steven Ehrlich, and BDO USA in Delaware bankruptcy court.
- The FTX Recovery Trust is suing to recover at least $1.76 billion paid during a July 2021 repurchase of Binance's FTX stake.
- FTX claims the payments were fraudulent transfers made while insolvent, while Binance denies wrongdoing and maintains the transaction was legitimate.
Source excerpt · FinanceFeeds
Binance and its founder Changpeng Zhao have subpoenaed television investor Kevin O'Leary and several other prominent figures as part of their defense against a $1.76 billion lawsuit brought by the FTX Recovery Trust. According to Bloomberg Law, the subpoenas were disclosed in a November 4, 2026, filing with the US Bankruptcy Court for the District of Delaware. The requests target O'Leary, author M…