FTX seeks to claw $700M from Bankman Fried buddies and affiliated funds

FTX has filed a lawsuit in the USA Chapter Court docket for the District of Delaware in opposition to among the funding companies it had ties to earlier than its collapse. The go well with, filed June 22, contained 16 counts and seeks over $700 million from the defendants.

The lawsuit submitting named K5 International – an incubator and funding firm, Mount Olympus Capital and SGN Albany Capital, in addition to affiliated entities and K5 International co-owners Michael Kives and Bryan Baum, as defendants. Kives is a former agent for the CAA expertise company and former aide to Hilary Clinton. The go well with famous the then-CEO of FTX Sam Bankman-Fried (SBF) attended a social occasion hosted by Kives in 2022:

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