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FTX has reached a $228 million settlement with Bybit, which will allow FTX’s liquidation estate to reclaim $175 million in cryptocurrency held on Bybit accounts. Additionally, FTX will sell over 105 million BIT tokens to Bybit, valued at approximately $53 million. This settlement, which resolves a $228M lawsuit alleging preferential treatment by Bybit towards its investment arm, Mirana. In a separate legal action, FTX has filed a lawsuit against KuCoin to recover over $50 million in assets that it claims have been withheld.
🎙️🔥 Rise’n’Crypto: FTX vs. KuCoin FTX is suing KuCoin to reclaim over $50 million in frozen assets since its collapse in 2022. Originally $28 million, the value has soared due to market changes. https://t.co/dSJJOS9W19
A suit brought by a leading crypto trading platform seeking to preempt enforcement activity by Wall Street's top cops shows how much the industry is leaning on Texas courts to fight US oversight. https://t.co/vAiZ4IoTwK
FTX FILES A LAWSUIT TO RETRIEVE $50 MILLION IN ASSETS THAT IT CLAIMS HAS NOT BEEN RELEASED BY KUCOIN - The bankrupt cryptocurrency exchange FTX has filed a lawsuit against @kucoincom via its subsidiary, Alameda Research, in order to reclaim $50 million in customer assets. -… https://t.co/hjfBuPzFKe https://t.co/wGR2ZEwoB2
