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News Explorer — FTX Sues K5 Global to Recover $700 Million in Investments

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Jun 22, 10:03 pm
Reuters

FTX Sues K5 Global to Recover $700 Million in Investments

FTX has filed a lawsuit against investment firm K5 Global, seeking to reclaim $700 million in investments allegedly made with misappropriated FTX funds. The complaint alleges that Bankman-Fried authorized investments in K5 projects that enriched co-founders Michael Kives and Bryan Baum with no payoff for FTX or its customers. FTX has also recovered more than $7 billion in assets and settled with the Metropolitan Museum of Art to return $550 million in donations.

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