Failed crypto exchange FTX is suing founder and former Chief Executive Sam Bankman-Fried and others, seeking to claw back about $240 million related to the...
Failed crypto exchange FTX is suing co-founder and former Chief Executive Sam Bankman-Fried and others, seeking to claw back about $240 million related to the company’s acquisition of stock-trading platform Embed.
The... Failed crypto exchange FTX is suing co-founder and former Chief Executive Sam Bankman-Fried and others, seeking to claw back about $240 million related to the company’s acquisition of stock-trading platform Embed. The lawsuit claimed money for the Embed acquisition came from Alameda Research, FTX’s affiliated hedge fund, which had illegally diverted assets belonging to FTX — constituting fraud.believed it would help expand FTX.US’s operations into conventional securities markets, thereby enriching themselves,” the suit claimed, and FTX ended up paying a “wildly inflated” price for Embed.
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FTX leadership sues Sam Bankman-Fried over $220M deal made prior to bankruptcyFTX lawyers are suing former CEO Sam Bankman-Fried, co-founder Zixiao Wang and former senior executive Nishad Singh over the $220 million acquisition of stock-clearing platform Embed, alleging they failed to conduct due diligence and had paid for the acquisition using misappropriated funds
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