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The Guardian - UK

Business

Hibaq Farah

FTX sues founder Sam Bankman-Fried and three others for $1bn

FTX Sam Bankman-Fried John Ray Caroline Ellison Gary Wang Nishad Singh Lawsuit Cryptocurrency

FTX suspended withdrawals in November. Photograph: Dado Ruvić/Reuters

The bankrupt cryptocurrency exchange FTX is suing its founder Sam Bankman-Fried and three other former executives for $1bn (£780m).

FTX collapsed in November and Bankman-Fried was arrested the following month in the Bahamas over allegations he stole customer funds and extradited to the US, where he has pleaded not guilty to charges of fraud and conspiracy to violate campaign finance laws and bribe Chinese authorities.

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