Binance and CZ subpoena Kevin O’Leary in $1.76 billion FTX clawback fight

Binance and Changpeng Zhao have subpoenaed Kevin O’Leary in the $1.76 billion FTX clawback litigation, seeking testimony from the investor and celebrity endorser as the estate pursues recoveries tied to the exchange’s 2022 collapse. The move pulls O’Leary—who was paid roughly $15 million in FTX equity and endorsements and later became a prominent critic—into the cross-border dispute over funds transferred before bankruptcy. The subpoena signals that Binance and CZ intend to contest the clawback claims by scrutinizing FTX’s marketing, solvency representations and the role of outside promoters. It matters because the case could shape how courts treat exchange-to-exchange transfers and promoter liability, with implications for how crypto firms structure endorsements and disclosures. What to watch next is whether O’Leary’s testimony yields documents or statements that shift the $1.76 billion claim, and how the court handles jurisdictional fights between the FTX estate and Binance.