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Home » FTX Sues Crypto Exchange Bybit to Recover $953 Million in Cash … – The Wall Street Journal

FTX Sues Crypto Exchange Bybit to Recover $953 Million in Cash … – The Wall Street Journal

FTX Sues Crypto Exchange Bybit to Recover $953 Million in Cash … – The Wall Street Journal

Bybit operates one of the world’s largest cryptocurrency trading exchanges. Photo: karim sahib/Agence France-Presse/Getty ImagesBankrupt cryptocurrency exchange FTX has filed a lawsuit against Bybit Fintech and two affiliates to try to claw back assets valued at $953 million that were withdrawn shortly before FTX’s November 2022 collapse.The lawsuit, filed Friday in the U.S. Bankruptcy Court in Wilmington, Del., alleges that Bybit’s investment arm, Mirana, “leveraged its VIP connections to pressure FTX group employees to fulfill its withdrawal requests as soon as assets became available.”Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8 

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