The intensity of the legal dispute between the cryptocurrency platforms FTX and Binance is escalating, with FTX demanding the return of $1.76 billion from its rival platform in a controversial lawsuit. The details of the case date back to 2021 when FTX repurchased a 20% stake it had previously sold to "Binance" in a deal valued at $1.76 billion through BNB, BUSD, and FTT tokens.

FTX claims that it was effectively insolvent at the time of the transaction, and that the funds used to complete the repurchase were customer funds, which Binance described as a baseless and misleading accusation, considering that FTX is looking for an external party to hold accountable for the collapse.

Read more about the lawsuit from FTX against Binance that has sparked widespread controversy in the cryptocurrency market... - Source of the news