ChainCatcher reported that according to Reuters, the bankrupt cryptocurrency exchange FTX has reached a settlement in a lawsuit and agreed to sell FTX Europe back to its founder for $32.7 million. According to documents filed with the Wilmington Bankruptcy Court in Delaware on Thursday, FTX believes that no other buyer will agree to acquire its fledgling European subsidiary FTX Europe, and the proposed settlement is the best outcome for FTX creditors, indicating that it is difficult to find other buyers.
FTX sought to recoup funds used for the acquisition before accepting the sale. The exchange filed a lawsuit claiming that the acquisition was funded with customer funds and argued that the purchase price was a "huge overpayment." Startup founders Patrick Gruhn and Robin Matzke deny the accusation and demand $256.6 million from FTX. The dispute was finally resolved on February 21.
It is reported that FTX Europe’s predecessor was the Swiss startup Digital Assets AG (DAAG), which was acquired for US$323 million in 2021.
