CryptoPotato: FTX Seeks to Claw Back $250M From SBF and Execs in New Lawsuit

CryptoPotato: FTX Seeks to Claw Back $250M From SBF and Execs in New Lawsuit. “Bankrupt cryptocurrency entities FTX, FTX.US, and Alameda Research have filed a lawsuit against former executives Sam Bankman-Fried (SBF), Nishad Singh, and Gary Wang for lavishly spending FTX Group’s assets on the acquisition of stock clearing firm Embed Financial Technologies. The move is the first formal action from FTX CEO John Ray against the company’s former management. The lawsuit, filed in the United States Bankruptcy Court for the District of Delaware, seeks to claw back the funds spent during the acquisition.”