The FTX bankruptcy estate continues to draw attention with lawsuits filed to recover financial losses. Most recently, FTX filed a $1.8 billion compensation claim against major cryptocurrency exchange Binance and its former CEO Changpeng Zhao (CZ). According to Bloomberg, FTX’s targeting of Zhao and Binance in the process of recovering financial losses was one of the most striking steps in this bankruptcy process. The lawsuit claims that Binance tried to withdraw resources from FTX while it was in a difficult situation, and that this move further damaged FTX’s financial balance.
FTX Files Over 20 Lawsuits
In addition to the lawsuit against Binance and Zhao, the FTX bankruptcy estate has filed more than 20 lawsuits against various companies and prominent figures. With these lawsuits, FTX aims to raise funds to cover creditors’ losses during the bankruptcy process.
The companies and names being sued include prominent figures such as SkyBridge Capital CEO and former Trump administration official Anthony Scaramucci, the developers of the game Storybook Brawl, and Deltec Bank President Jean Chalopin. The companies and names in question were allegedly involved in transactions that created a financial burden on the FTX bankruptcy estate.
Alameda Research Files $90 Million Lawsuit Against Waves Founder
Recently, FTX subsidiary Alameda Research also took action to recover its receivables from the bankruptcy process. Alameda filed a $90 million lawsuit against the founder of altcoin Waves (WAVES). The lawsuit is based on allegations of manipulation and unfair profits of the Waves coin.
After Binance delisted the Waves coin from its platform in June, the altcoin’s price dropped by up to 30 percent. Currently, Waves continues to exist on the market with a price of $1.12 and a market value of $112.3 million.
Along with all this, the lawsuits filed by the FTX bankruptcy estate and Alameda Research seem to increase tension in the cryptocurrency market.
