The FTX bankruptcy filing continues to draw attention as it initiates lawsuits to recover financial losses. Recently, FTX filed a $1.8 billion compensation claim against the major cryptocurrency exchange Binance and its former CEO, Changpeng Zhao (CZ). According to Bloomberg, targeting Zhao and Binance to recover financial damages has become one of the most striking moves in the bankruptcy process. The lawsuit alleges that Binance attempted to withdraw its resources while FTX was in distress, further destabilizing FTX’s financial situation.
FTX’s Over 20 Legal Actions
In addition to the lawsuit against Binance and Zhao, the FTX bankruptcy team has filed over 20 lawsuits against various companies and key figures. Through these legal actions, FTX aims to raise funds to cover creditors’ losses during the bankruptcy process.
Among those targeted in lawsuits are notable individuals such as Anthony Scaramucci, CEO of SkyBridge Capital and former Trump administration official, as well as developers of the game Storybook Brawl and Jean Chalopin, the chairman of Deltec Bank. Allegations suggest that these companies and individuals were involved in transactions that imposed financial burdens on the FTX bankruptcy team.
Alameda Research Files $90 Million Lawsuit Against Waves Founder
Recently, FTX’s subsidiary Alameda Research has also taken steps to reclaim its debts during the bankruptcy process. Alameda filed a $90 million compensation lawsuit against the founder of the altcoin Waves. The lawsuit is based on allegations of manipulation of the Waves coin and unjust profits accrued.
In June, after Binance delisted Waves from its platform, the price of the altcoin fell by up to 30%. Currently, Waves remains present in the market with a price of $1.12 and a market capitalization of $112.3 million.
Overall, the lawsuits initiated by the FTX bankruptcy team and Alameda Research appear likely to escalate tensions within the cryptocurrency market.
