FTX Derivatives Exchange has unleashed a high stakes legal suit against Anthony Scaramucci and others in a bid to recover over $100 million
FTX, once a titan in the crypto world, has launched a strong campaign to regain its lost assets and reputation. Just weeks after a judge approved its reorganization plan, the defunct exchange is wielding the legal sword, filing 25 high-profile lawsuits.
FTX Targets Big Names and Unlikely Allies In New Lawsuit
FTX’s lawsuits aim to recoup millions by going after individuals and companies who once saw FTX’s co-founder Bankman-Fried as a willing investor.
Among the defendants is Anthony Scaramucci, CEO of SkyBridge Capital and former Trump advisor. FTX alleged that Scaramucci and SkyBridge accepted large investments from Bankman-Fried without conducting the thorough checks expected from experienced investors.
Now, the FTX estate wants over $100 million back, accusing SkyBridge of benefiting from “no-questions-asked” investments. At the heart of the case, FTX claimed that Bankman-Fried spent $12 million on a sponsorship for Scaramucci’s SALT conference. FTX’s lawsuit called this a wasteful expense.
FTX is also pursuing $55 million invested in Scaramucci’s ventures, arguing the deals made little financial sense. Additionally, FTX disputes a $45 million claim by SkyBridge, alleging it is an attempt to claim funds twice.
The most surprising aspect involves Bitcoin and Solana. FTX accused SkyBridge of selling these assets, bought with FTX funds, now worth over $120 million, without proper authorization.
According to FTX, the sales deprived the exchange of critical resources that might have supported it in its struggles. Now, FTX seeks damages, claiming each dollar lost weakened its chances of survival.
“Humpy the Whale” and His Bag of Tricks
FTX’s lawsuit against Nawaaz Mohammad Meerun takes a dramatic turn. The lawsuit identifies Meerun as “Humpy the Whale,” a trader who allegedly manipulated illiquid tokens on FTX for billions in profits.
Meerun allegedly exploited FTX’s systems to his advantage, using multiple pseudonyms, like “motherofallburgers”. The plot thickens as FTX links Meerun’s activities to organized crime and extremist networks, claiming his influence extended beyond crypto.
Even after FTX’s collapse, the lawsuit asserted that Meerun, under his “Humpy” alias, attempted to target another platform in a governance attack in 2024. FTX believes Meerun played a crucial role in its downfall and is seeking justice. The exchange’s latest lawsuits highlight Bankman-Fried’s reckless investments made during the company’s insolvency.
FTX claimed these investments provided little or no value, making them prime targets for legal recovery. The ultimate goal of the FTX estate is to recover as much money as possible to pay back creditors.
In doing so, FTX seeks to reshape its narrative, aiming to portray its collapse not as a result of reckless behavior but as a story of resilience and accountability.
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