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.

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

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.

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 has filed a lawsuit against Binance and its former CEO Changpeng Zhao for $1.76 billion, asserting Binance’s role in FTX’s 2022 collapse. According to FTX, its founder, Sam Bankman-Fried, financed a share buyback using customer funds—a transaction the suit claims was motivated by Zhao’s alleged attempts to sabotage FTX’s market position.

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.

DOJ intensifies efforts to seize $17.9M in FTX crypto assets amid ongoing lawsuits and fallout from Sam Bankman-Fried's alleged bribery.