FTX Sues Ex-Salameda Employees for $157.3 Million!

Creator: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since a few years. He has earlier buying and selling expertise and has been working within the Fintech trade since 2017.

Sep 22, 2023 15:19

Crypto trade FTX has filed a lawsuit in opposition to former staff of Salameda to get well $157.3 million. The Hong Kong-incorporated entity was managed by FTX’s ex-CEO, Sam Bankman-Fried, and allegedly participated in fraudulently withdrawing property from FTX within the days main as much as its November 2022 chapter submitting. The submitting additionally alleges that the defendants exploited their connections to FTX personnel to make sure they had been prioritized over different prospects. This isn’t the primary time FTX has tried to get well funds from associated events, with Bankman-Fried and his executives, mother and father, and philanthropic arm all earlier targets.