FTX Token

<a href="https://optimisus.com/news/crypto-news/bankrupt-crypto-exchange-ftx-sues-ex-binance-ceo-cz-for-nearly-2-billion/" rel="noopener noreferrer nofollow">FTX is ramping up its legal battle by filing over 20 new lawsuits</a> to recover assets lost to political donations, fraudulent investments, and market manipulation.These lawsuits target a range of individuals and companies, including notable figures like former White House Communications Director Anthony Scaramucci and the creators of the video game Storybook Brawl.Since its bankruptcy filing in November 2022, FTX&#39;s administrators have launched a total of 51 legal actions, with a significant number occurring in just the past few weeks.A major focus of these lawsuits is on political contributions that <a href="https://optimisus.com/news/crypto-news/former-alameda-to-hand-over-bulk-of-her-assets-to-settle-ftx-lawsuit/" rel="noopener noreferrer nofollow">FTX</a> claims were made using customer funds, particularly targeting donations to left-leaning organizations.According to Thomas Braziel, the founder of 117 Partners, U.S. bankruptcy law allows for the recovery of donations made with fraudulent intent or without proper value.He emphasized that the circumstances surrounding the donation, including the donor&#39;s intent and financial situation, are critical in determining whether these funds can be reclaimed.One of the most notable cases involves Scaramucci, with FTX suing him for over $100 million. Additionally, FTX has taken action against Nawaaz Mohammad Meerun, also known as &#34;Humpy the Whale,&#34; who is accused of causing over $1 billion in losses through market manipulation.FTX claims that Meerun&#39;s actions led to significant financial harm for both the exchange and its trading arm, Alameda Research, forcing them to cover risky positions and incurring hundreds of millions in losses.In its quest to recover assets, FTX&#39;s legal team is also targeting centralized exchanges like Crypto.com and KuCoin.

FTX intensifies its recovery efforts with 20 new lawsuits

Optimisus

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