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Zenger

National

Lennox Kalifungwa

Bankrupt Crypto Exchange FTX Takes Legal Action Against Former Associates Over $157.3 Million Withdrawal

FTX Crypto Michael Burgess Omar Marques Sam Bankman-Fried Hong Kong Zenger News

In this photo illustration a FTX logo is displayed on a smartphone with stock market percentages in the background. FTX has initiated legal action against former associates of Salameda, a Hong Kong-based entity. OMAR MARQUES/SOPA IMAGES/LIGHT ROCKET VIA GETTY IMAGES.

Bankrupt crypto exchange FTX (CRYPTO: FTT) has initiated legal action against former associates of Salameda, a Hong Kong-based entity reportedly under the direct control of the crypto exchange’s former CEO Sam Bankman-Fried.

The lawsuit alleges that these associates illicitly withdrew approximately $157.3 million.

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