FTX’s bankruptcy estate has launched a $1.8 billion lawsuit against Binance and its former CEO, Changpeng Zhao, accusing them of fraudulent transactions.

The two crypto exchanges have a history of bad blood. Changpeng Zhao, the co-founder and former CEO of crypto exchange Binance, may have thought his legal troubles were over when he was recently released from prison.

The estate of FTX has filed a lawsuit against rival firm Binance and its former CEO Changpeng Zhao in an effort to claw back nearly $1.8 billion linked to an allegedly “fraudulent” deal

The litigation marks the latest escalation of tensions between two of the biggest names in crypto, after the meteoric collapse of FTX rocked the market.

FTX filed a lawsuit against Binance Holdings Ltd. and its former Chief Executive Officer Changpeng Zhao, seeking to claw back almost $1.8 billion whose assets were fraudulently transferred by Sam Bankman-Fried.

Changpeng Zhao reflects on the FTX collapse anniversary and confirms he won’t return as Binance CEO after his prison stint.

The estate of defunct crypto exchange FTX filed a suit against Binance and its former CEO ChangPeng Zhao seeking to recoup almost $1.8 billion FTX alleges was “fraudulently” transferred to Binance and executives by Sam Bankman-Fried as part of a share deal.

Binance founder Changpeng Zhao, known as "CZ," said he wasn't initially recognized in prison — but word of his crypto empire soon spread.

LONDON - Collapsed cryptocurrency company FTX is suing Binance and its former chief executive Zhao Changpeng, alleging that US$1.8 billion (S$2.4 billion) was “fraudulently transferred” by FTX management to Binance and its executives.

Imprisoned crypto king Sam Bankman-Fried is now accused of yet even more wrongdoing, this time by the defunct exchange he founded.

The lawsuit relates to Binance’s sale of its stake in FTX, the rival exchange founded by the now-imprisoned Sam Bankman-Fried.