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FTX sues Bankman-Fried for US$1bn
FTX is suing former CEO and founder Sam Bankman-Fried for US$1bn, along with three former executives at the firm.
July 24, 2023
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FTX is suing former CEO and founder Sam Bankman-Fried for US$1bn, along with three former executives at the firm.
Never has the phrase “meteoric rise” felt so appropriate. At the height of its success, FTX processed more than US$6bn in spot trade volume, with an average daily trade volume of US$2bn. It was valued at US$32bn in January 2022, making it one of the world’s most valuable crypto companies at that time.
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