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.
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.
FTX’s $45M Sequoia Sale Cleared, as Embed Divestment Delayed
A Delaware bankruptcy judge approved the sale of the bankrupt company’s assets to Abu Dhabi’s investment arm.
FTX units on auction block draws 117 interested buyers: Court filing
Four businesses up for sale as part of bankruptcy proceedings include Embed, LedgerX, FTX Japan and FTX Europe.
FTX wants permission to sell FTX Japan and FTX Europe as well as LedgerX
The four businesses FTX wants to sell had only recently been acquired, and lawyers argue this simplifies the sale process.