Binance is fighting a $1.76 billion lawsuit from the FTX estate, seeking a Delaware court to dismiss it . The case centres on a 2021 equity buyback deal between the two crypto exchanges, which took place over a year before FTX collapsed. Binance argues the lawsuit is “legally flawed” and should be dismissed. FTX says it used customer funds without permission to repurchase Binance’s stake. But Binance’s lawyers claim the accusation is based on weak assumptions and lacks evidence. Binance Accuses FTX of Avoiding Accountability In its court filing, Binance argued that FTX is trying to shift blame away from its founder, Sam Bankman-Fried, who is serving a 25-year prison sentence for fraud. Binance claims the lawsuit ignores the real reason for FTX’s failure, calling it “one of the biggest corporate frauds in history.” The company also said it had no role in FTX’s collapse and emphasized that none of… Read More at Coingape.com

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With Bitcoin (BTC) price approaching its all-time high of $110,000, the choppy price action has liquidated $845 million in just two days. Spot ETF flows and institutional accumulation show investors are optimistic about BTC’s future and that an ATH retest is possible. However, a closer look at technicals suggests traders must exercise caution in the short term. BTC Price & Investors Remain Bullish Despite $845M in Liquidations The May 18 and 19 price action saw BTC price climb to $106.6k, drop to $102k, and revisit a four-month high of $107.1k. As a result of this whipsaw, the cryptocurrency market witnessed a liquidation of $845 million, according to CoinGlass data. Despite this culling, the Open Interest (OI) remained high at around 199.72k BTC. A look at the OI growth relative to Bitcoin’s price since the second quarter shows how bullish traders are. Bitcoin Price vs. Open Interest, Source: Velo Another driver… Read More at Coingape.com

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