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Fortune
Fortune
Ben Weiss

‘Invest in them or some stuff, idk’: FTX estate sues investment firm headed by ‘super-networker’ ex-Clinton aide for $700 million

FTX Michael Kives Sam Bankman-Fried Lawsuit K5 Bill Clinton
Michael Kives, cofounder of K5 Global, poses with Megan Ferguson, an American actress, in 2013. (Credit: Araya Diaz—Getty Images/UNICEF)

The bankrupt estate of crypto exchange FTX filed a lawsuit on Thursday against investment firm K5 Global, seeking to claw back $700 million that Sam Bankman-Fried, the exchange’s now-disgraced founder, allegedly lavished on the firm from March to September 2022.

In addition to K5 Global, FTX’s estate sued Michael Kives and Bryan Baum, the firm’s cofounders. Kives was once an aide to President Bill Clinton after Clinton’s presidency ended, his bio notes. He then worked as a talent agent, eventually becoming a “super-networker,” according to the lawsuit.

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