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RUIN: Money, Ego and Deception at FTX
The proposed class action in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the United. The lawyers overseeing the bankrupt cryptocurrency exchange accused Joe Bankman and Barbara Fried of enriching themselves with money their son. FTX is on the hunt for billions of dollars that the cryptocurrency exchange says it is owed. Since filing for bankruptcy in November , the company�through a dozen or so lawsuits�has been trying to claw back the money.

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Reuse this content. The possibility that an appreciation in value of assets recovered by FTX might create a pot of funds greater in value than the sum owed to customers is irrelevant to the valuation of claims, says Max. You Might Also Like �. FTX collapsed in November after failing to meet a surge in withdrawal requests.