FTX Bankruptcy Lawyers File in Court to Recover $323M From FTX Europe Leadership

FTX bankruptcy lawyers have filed in Delaware bankruptcy court to recover $323 million from FTX Europe leadership after SBF and FTX paid a combined roughly $323.5 million to acquire Swiss firm DAAG, CoinDesk reported. It was eventually renamed FTX Europe. Lawyers allege that FTX Europe leadership charged nearly $100 million in exorbitant down payment fees when it acquired K-DNA, an entity that had obtained an EEA license to operate and was subsequently merged into FTX Europe, when the deal cost only $2 million Euros, the transaction totaled more than $376 million, of which $52.5 million was the outstanding debt balance.