Two of the world’s biggest Crypto companies are fighting again, this time over this 2021 transaction

The estate of bankrupt cryptocurrency exchange FTX has filed a lawsuit against Binance, the world’s largest crypto exchange, and its former CEO Changpeng Zhao, a report has said. FTX is seeking to recover at least $1.76 billion in the lawsuit that centres on a 2021 share repurchase deal that FTX alleges was fraudulent.
According to a report by CNBC, the lawsuit has been filed in a Delaware court, claiming that Binance, Zhao, and other parties involved in the transaction fraudulently exited their investment in FTX. In 2021, Binance sold its 20% stake in FTX and its 18.4% stake in FTX’s U.S. entity, West Realm Shires, back to FTX.