tl;dr
The administrator of FTX's bankruptcy has filed over 20 new lawsuits, indicating a concerted effort to recover assets from various entities. These legal actions address claims related to political contributions, philanthropic efforts, investments, market fraud, and manipulation. FTX aims to reclaim ...
The administrator of FTX's bankruptcy has filed over 20 new lawsuits, indicating a concerted effort to recover assets from various entities. These legal actions address claims related to political contributions, philanthropic efforts, investments, market fraud, and manipulation. FTX aims to reclaim donations made with fraudulent intent or lacking equivalent value. Lawsuits have been filed against individuals and entities, including former White House Communications Director Anthony Scaramucci and the team behind Storybook Brawl. FTX is also pursuing Nawaaz Mohammad Meerun, known as "Humpy the Whale," for allegedly causing over $1 billion in losses through market manipulation. Additionally, FTX has filed legal actions against major centralized exchanges like Crypto.com and KuCoin. On November 8, the administrator overseeing FTX’s bankruptcy filed more than 20 new lawsuits, ramping up legal actions against several entities. These lawsuits indicate a concerted effort by FTX to recover assets from multiple companies and individuals. Since November 2022, the FTX Debtors have filed 51 adversary actions, with 30 of them occurring in recent weeks. According to documents from the FTX bankruptcy docket, most of the latest filings address various claims, including political contributions, the defunct exchange's philanthropic efforts, investments, and allegations of market fraud and manipulation. In addition to the non-profits, the failed exchange legal team is pursuing other prominent figures and entities. The estate has filed a lawsuit against former White House Communications Director Anthony Scaramucci and his company, seeking damages of more than $100 million. Another suit targets the team behind Storybook Brawl, a video game that FTX co-founder Sam Bankman-Fried invested in and promoted. FTX also filed a significant clawback lawsuit against Nawaaz Mohammad Meerun, known as “Humpy the Whale,” who allegedly caused over $1 billion in losses through market manipulation. These legal actions reflect FTX’s increasing efforts to recover assets from numerous individuals and companies. Over the past week, the exchange has filed legal actions against major centralized exchanges like Crypto.com and KuCoin over funds belonging to the platform.