Binance’s Legal Drama Moves to Florida: Court Says “First Come, First Served!”

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So, here’s the tea: a U.S. judge just decided Binance’s money-laundering lawsuit belongs in Florida — because apparently, courts are like “first come, first served” pizza joints. 🍕

The Washington case, filed in August 2024, is basically a redux of the Florida drama that kicked off back in June 2023. Both accuse Binance of letting cybercrooks launder their dirty crypto cash. Judge Barbara Rothstein summed it up nicely on April 21, reminding us all that if two class-action lawsuits look this alike, it’s basically one big déjà vu party.

“Sure, the lawsuits describe their proposed classes in slightly different ways, but both groups are people whose crypto got jacked and funneled through Binance.com,” she said. Translation: “Stop trying to get extra credit for the same homework.” 📚

Courtroom drama in crypto world

The “first-to-file” rule basically lets one court wave others off, saying, “I called shotgun on this case.” Usually, the court that opens the lawsuit first keeps it. It’s like squatting on the legal couch and refusing to move.

Plaintiffs: “Wait, Our Cases Are Totally Different!”

The folks suing from Washington threw a bit of a tantrum, claiming their case was special because (1) they slapped additional accusations into the mix, and (2) they named Binance’s former CEO, Changpeng “CZ” Zhao — the crypto world’s version of a mysterious villain. 😈

They also fretted that moving the lawsuit would slow everything down, which, duh, nobody wants.

Judge Rothstein, ever the pragmatist, was like, “Nah, moving it won’t cause delays — it’ll actually stop everyone from fighting over the same sandbox twice, which is the whole point of this rule.”

She added, “Having two parallel lawsuits in different places would be like watching two soap operas with the same plot – confusing and unnecessary.”

For some context, three brave crypto investors in Washington started this saga in August 2024, accusing Binance and CZ of laundering their stolen crypto cash. Meanwhile, in sunny Florida, Michael Osterer got the party started a year earlier, alleging Binance helped turn stolen crypto into dollar bills. That Florida case got shoved into arbitration in July 2024 — because even crypto drama loves a twist.

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2025-04-22 09:34