Jan 31, 05:59 PM

FTX Settles with K5 Global and LayerZero, Resolving Two-Year Legal Battles Involving Alameda Ventures

FTX has reached a settlement with K5 Global, a venture capital firm co-founded by a former aide to Hillary Clinton, as part of its ongoing efforts to maximize recoveries for its stakeholders. The settlement resolves a lawsuit that FTX had filed against K5 Global last year. This announcement follows another settlement with LayerZero concerning a 2022 transaction involving Alameda Ventures, which was also aimed at recovering funds for FTX stakeholders. Bryan Pellegrino, CEO of LayerZero Labs, confirmed the resolution of the lengthy two-year legal dispute. Sam Bankman-Fried's FTX emphasized that K5 Global is viewed positively within its portfolio, citing the expected strong performance of their investments as crucial for recovery efforts.