he saga surrounding the collapse of crypto firm FTX took one other twist at this time after the bankrupt enterprise unveiled a contemporary lawsuit in opposition to its former boss Sam Bankman-Fried in a bid to recoup lots of of thousands and thousands of {dollars}.
The lawsuit alleges that Bankman-Fried, together with quite a few different senior members of FTX together with co-founder Gary Wang, participated in fraudulent transactions for their very own private profit. That consists of the pair having allegedly taken $546 million from Alameda Research, their privately-held crypto hedge fund, to purchase shares in one other buying and selling app, Robinhood, in addition to utilizing pretend loans to accumulate shares in FTX that had been price $250 million.
