News Formal

FTX seeks to claw back over $240 million from Embed acquisition

  • 📰 Reuters
  • ⏱ Reading Time:
  • 15 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 9%
  • Publisher: 97%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Bankrupt crypto exchange FTX is seeking to claw back more than $240 million it paid for stock trading platform Embed, saying former FTX insiders did no investigation before buying the essentially worthless bug-ridden software platform.

FTX filed three lawsuits late Wednesday in U.S. Bankruptcy Court in Delaware targeting former FTX insiders including

FTX intended to use Embed's software to add stock trading to its crypto exchange platform, but Embed's software was "essentially worthless," the lawsuits said. FTX performed almost no investigation of Embed and "prioritized speed over all else," they added.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

FTX Executives Sue Co-Founders Amidst Failed FTX Stocks Project – Bitcoin NewsFTX co-founders are being sued by FTX’s current management over a failed FTX Stocks project deal and acquisition.
Source: BTCTN - 🏆 531. / 51 Read more »