What are the claims against Buybit in connection with the bankruptcy of FTX
The bankruptcy estate of FTX filed a lawsuit against Bybit for nearly $1 billion, alleging 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.
The bankruptcy estate of FTX filed a lawsuit against Bybit for nearly $1 billion, alleging 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.
The lawsuit also alleges that FTX held assets on Bybit, allowing Bybit to seize those funds and use them as leverage to force FTX to prioritize its withdrawals. Through this process, Mirana was able to withdraw nearly $500 million of its digital assets from FTX in the final days before FTX disabled withdrawals.
The FTX bankruptcy estate is seeking to claw back assets it values at $953 million from Bybit, according to pricing as of November 1, 2023
The lawsuit also alleges that FTX held assets on Bybit, allowing Bybit to seize those funds and use them as leverage to force FTX to prioritize its withdrawals. Through this process, Mirana was able to withdraw nearly $500 million of its digital assets from FTX in the final days before FTX disabled withdrawals.
The FTX bankruptcy estate is seeking to claw back assets it values at $953 million from Bybit, according to pricing as of November 1, 2023