FTX Estate Launches 23 New Lawsuits Against Binance and Others in Bid to Recover Billions

COINOTAG News reports on November 13th that FTX Estate has initiated a significant legal effort to recoup funds for its creditors, having filed 23 new lawsuits against several prominent entities, including Binance, Anthony Scaramucci, SkyBridge Capital, and Crypto.com. These legal actions are part of a broader strategy to reclaim billions of dollars lost following the notorious collapse of the FTX cryptocurrency exchange. The lawsuits assert that the funds directed to these firms formed an extensive “influence-buying operation” led by FTX’s founder, Sam Bankman-Fried (SBF). Documentation from the lawsuits indicates that SBF utilized these resources for sponsorship deals, investments, and charitable donations, all aimed at bolstering his standing in both political and mainstream financial circles while obscuring the deep financial disarray confronting the FTX platform.