Become a member

Get the best offers and updates relating to Liberty Case News.

spot_img

Top Cryptocurrency Marketing Agencies in 2025

Between 2023 and 2024, global crypto ownership increased by 33% to 562 million people. According to 2024 statistics, approximately 6.8% of the worldwide population...
spot_img
HomeCoinpedia NewsFTX Lawsuit Update: Exchange Settles $700M Dispute with K5 Global

FTX Lawsuit Update: Exchange Settles $700M Dispute with K5 Global

The post FTX Lawsuit Update: Exchange Settles $700M Dispute with K5 Global appeared first on Coinpedia Fintech News

As FTX, the collapsed cryptocurrency exchange, reaches the final stage of its bankruptcy process, It has intensified its efforts to resolve legal disputes with former partners. The embattled exchange has reached a deal with K5 Global, a popular venture capital firm, to settle a lawsuit filed against the firm, demanding $700 million in disputed investments. Read on for more details! 

FTX Settles Lawsuit With K5 Global 

It was in June 2024 that a lawsuit was filed against K5 Global by FTX. The most sensitive allegation in the lawsuit was that Michael Kives, the co-founder of K5 Global, used his political connections to help sam bankman fried



EntrepreneurChief Executive OfficerTrader





to steal customer funds.

The agreement reached with the firm by the exchange marks an end to this ‘almost’ one-year-old legal dispute.  

Interestingly, the parties have not yet disclosed the terms and conditions of the agreement. Notably, it remains unclear whether the exchange has recovered any fund from the venture capital firm.  

While speaking about the agreement, John Ray III, the current CEO of FTX, has termed the agreement mutually beneficial. 

FTX’s Legal Battles and Settlements: What You Should Know 

Similarly, FTX recently reached an agreement with LayerZero to settle a case that the exchange filed against the protocol in 2023, seeking to recover $86 million in a share-sell deal with Alameda Research. Importantly, as a part of the settlement effort, the protocol wroke off a $11.5 share deal. 

Other Major Financial Recovery Efforts by FTX  

Recently, the exchange initiated its effort to recover at least $67 million from Anthony Scaramucci. Additionally, it succeeded in reaching an agreement to recover at least $70 million from a former Alameda Research executive, named Sam Trabucco. 

FTX’s Repayment and Reorganisation Process Explained 

The exchange recently initiated its claims repayment process. Reports suggest that at least $6.5 billion was earmarked for this process in the initial stage.  

FTX’s latest settlement with K5 Global marks another step in its ongoing bankruptcy process. As it seeks to recover lost funds, the exchange has been resolving legal disputes and securing financial settlements. With billions set aside for repayments, FTX creditors await the outcome of these efforts, hoping for significant recoveries. 

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

The post FTX Lawsuit Update: Exchange Settles $700M Dispute with K5 Global appeared first on Coinpedia Fintech News

As FTX, the collapsed cryptocurrency exchange, reaches the final stage of its bankruptcy process, It has intensified its efforts to resolve legal disputes with former partners. The embattled exchange has reached a deal with K5 Global, a popular venture capital firm, to settle a lawsuit filed against the firm, demanding $700 million in disputed investments. Read on for more details! 

FTX Settles Lawsuit With K5 Global 

It was in June 2024 that a lawsuit was filed against K5 Global by FTX. The most sensitive allegation in the lawsuit was that Michael Kives, the co-founder of K5 Global, used his political connections to help sam bankman fried



EntrepreneurChief Executive OfficerTrader





to steal customer funds.

The agreement reached with the firm by the exchange marks an end to this ‘almost’ one-year-old legal dispute.  

Interestingly, the parties have not yet disclosed the terms and conditions of the agreement. Notably, it remains unclear whether the exchange has recovered any fund from the venture capital firm.  

While speaking about the agreement, John Ray III, the current CEO of FTX, has termed the agreement mutually beneficial. 

FTX’s Legal Battles and Settlements: What You Should Know 

Similarly, FTX recently reached an agreement with LayerZero to settle a case that the exchange filed against the protocol in 2023, seeking to recover $86 million in a share-sell deal with Alameda Research. Importantly, as a part of the settlement effort, the protocol wroke off a $11.5 share deal. 

Other Major Financial Recovery Efforts by FTX  

Recently, the exchange initiated its effort to recover at least $67 million from Anthony Scaramucci. Additionally, it succeeded in reaching an agreement to recover at least $70 million from a former Alameda Research executive, named Sam Trabucco. 

FTX’s Repayment and Reorganisation Process Explained 

The exchange recently initiated its claims repayment process. Reports suggest that at least $6.5 billion was earmarked for this process in the initial stage.  

FTX’s latest settlement with K5 Global marks another step in its ongoing bankruptcy process. As it seeks to recover lost funds, the exchange has been resolving legal disputes and securing financial settlements. With billions set aside for repayments, FTX creditors await the outcome of these efforts, hoping for significant recoveries. 

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.