## CZ Seeks Dismissal of FTX Trust Lawsuit Changpeng Zhao (CZ), co-founder of Binance, is seeking dismissal of a lawsuit filed by the FTX Trust in Delaware Bankruptcy Court, as reported by Bloomberg. The lawsuit alleges that Binance and CZ unjustly profited from the repurchase of FTX and FTX Digital Markets shares in July 2021. At the time, Binance held significant stakes in FTX International and FTX US, which were sold back to FTX founder Sam Bankman-Fried. The FTX Trust contends that the $1.76 billion transaction resulted in unjust enrichment for Binance and CZ. However, Binance and CZ argue that the Delaware Bankruptcy Court lacks jurisdiction over the matter, as the transaction occurred outside of the United States. They also claim that the lawsuit's requirements are not adequately met. The court will now need to consider these arguments to determine whether the lawsuit can proceed. ```

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