FTX has sued several investment firms for $700 million, which it associates with the slump.
Crypto exchange FTX has focused on restructuring after its collapse late last year. Continuing its legal struggles in this context, FTX pursued the organizations that owed the company.
FTX has sued companies in Delaware County Bankruptcy Court that it claims were linked to the stock market crash. FTX demands $700 million from companies.
SBF Has Relationship with Companies on FTX’s Radar
FTX has filed a new lawsuit with the court where it runs the bankruptcy process. FTX’s radar includes companies that received $700 million through various activities during the downturn.
The lawsuit deals with Alameda Research transferring $700 million to Michael Kives, Baum and K5 Global. However, according to the allegations in the case, Alameda Research structured the deals as if they came from shell companies SGN Albany and Mount Olympus Capital. In addition, Kives attracted attention as a name associated with Hilary Clinton.
FTX’s lawsuit sought the return of funds transferred from Alameda Research to SGN Albany Capital. Another return request was funds transferred from Kives, Baum and SGN Albany Capital to Mount Olympus Capital.
These transfers, which are the subject of the lawsuit, claim that an asset of $ 700 million changed hands through shell companies. FTX demands that this money be returned to the company with the claims it has submitted to the court.
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