FTX pursues $244M clawback from ‘wildly inflated’ Embed acquisition deal
FTX lawyers want to claw back $243.7 million from Embed insiders and executives, claiming its former leadership paid a "wildly inflated" price for the company.
Alameda
Alameda Research
due diligence
Embed
FTX insiders
FTX.US
Michael Giles
misappropriated
Nishad Singh
Stock-clearing platform
sue
Zixiao Wang
FTX leadership sues Sam Bankman-Fried over $220M deal made prior to bankruptcy
When FTX tried to sell the platform after filing for bankruptcy, the top bid was for just $1 million, representing a 99.5% decline in value.