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.

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 now-defunct crypto exchange FTX has filed a lawsuit against Binance and its former CEO Changpeng Zhao in a bid to recover $1.76 billion. FTX alleges these funds were fraudulently transferred to Binance,

The estate of the crippled digital exchange FTX filed a lawsuit against fellow crypto exchange Binance on Sunday as it tries to get back $1.76 billion in what it claims was a "fraudulent" share agreement.

FTX is suing Binance and its former CEO, Changpeng Zhao, for $1.8 billion, accusing them of engaging in a fraudulent share deal in July 2021.

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.