K5Global
907 megtekintés
2 Bejegyzések
Népszerű
Legfrissebb
Bankrupt FTX Seeks Return of $700 Million Paid to Super Networkers
Allegations
FTX's attorneys allege that #SBF ordered Alameda Research to transfer around $700 million to “super networkers” Bryan Baum and Michael Kives — who was a former aid to both Bill and Hillary Clinton — through their company K5 Global. The lawsuit seeks the return of these funds as they were paid “without receiving equivalent value” and could be considered avoidable transactions, which in bankruptcy law means they could be reversed.
Evidence
The lawsuit cites a number of pieces of evidence to support its allegations, including:
An internal note was written by SBF in which he described Kives as “the most connected person I’ve ever met” and said that he was a “one-stop shop for relationships that we should utilize.”
A Term Sheet that was signed by SBF agreeing to invest billions in Kives’ and Baum’s companies without specifying what #FTX would gain in return.
The fact that the payments were made right before FTX became insolvent.
Response from K5 Global
A spokesperson for K5 Global denied the allegations, saying that the company “thought that SBF was completely legitimate and they were entering into a fair, long-term, and mutually beneficial business relationship.” They also said that the lawsuit is “without merit.”
Analysis
The allegations against SBF are serious and could have significant consequences for him and FTX. If the lawsuit is successful, FTX could be forced to return the $700 million that was paid to #K5Global
This would be a major financial setback for FTX, and it could also damage the company's reputation.
The allegations also raise questions about SBF's business practices. If he was willing to pay $700 million for access to connections, it suggests that he was willing to put the company's financial interests at risk. This could also lead to regulatory scrutiny of FTX.
Conclusion
The allegations against SBF are serious and could have significant consequences for him and FTX. The lawsuit is still ongoing, and it is too early to say what the outcome will be. However, the allegations have raised questions about SBF's business practices and could lead to regulatory scrutiny of FTX.
#SEC #CryptoNews
FTX's attorneys allege that #SBF ordered Alameda Research to transfer around $700 million to “super networkers” Bryan Baum and Michael Kives — who was a former aid to both Bill and Hillary Clinton — through their company K5 Global. The lawsuit seeks the return of these funds as they were paid “without receiving equivalent value” and could be considered avoidable transactions, which in bankruptcy law means they could be reversed.
Evidence
The lawsuit cites a number of pieces of evidence to support its allegations, including:
An internal note was written by SBF in which he described Kives as “the most connected person I’ve ever met” and said that he was a “one-stop shop for relationships that we should utilize.”
A Term Sheet that was signed by SBF agreeing to invest billions in Kives’ and Baum’s companies without specifying what #FTX would gain in return.
The fact that the payments were made right before FTX became insolvent.
Response from K5 Global
A spokesperson for K5 Global denied the allegations, saying that the company “thought that SBF was completely legitimate and they were entering into a fair, long-term, and mutually beneficial business relationship.” They also said that the lawsuit is “without merit.”
Analysis
The allegations against SBF are serious and could have significant consequences for him and FTX. If the lawsuit is successful, FTX could be forced to return the $700 million that was paid to #K5Global
This would be a major financial setback for FTX, and it could also damage the company's reputation.
The allegations also raise questions about SBF's business practices. If he was willing to pay $700 million for access to connections, it suggests that he was willing to put the company's financial interests at risk. This could also lead to regulatory scrutiny of FTX.
Conclusion
The allegations against SBF are serious and could have significant consequences for him and FTX. The lawsuit is still ongoing, and it is too early to say what the outcome will be. However, the allegations have raised questions about SBF's business practices and could lead to regulatory scrutiny of FTX.
#SEC #CryptoNews
