FTX creditors request compensation for damages

In the current context of euphoria and rising Bitcoin price action the creditors of FTX are requesting compensation for damages, an element that somehow aims to take advantage of the rise of Bitcoin to recover the resources previously swindled.

In the words of Ana Pereira, "The FTX bankruptcy case has opened a new chapter, as creditors of the exchange have filed a class action lawsuit against the law firm overseeing the case."

From my perspective Pereira's account of FTX's creditors is a way to create a sense that something is coming about massive sales of BTC units in order to drive down the price action.

According to Pereira, "In a Feb. 16 court filing, FTX creditors alleged that the law firm Sullivan & Cromwell, also known as S&C, "actively" participated in the "multibillion-dollar fraud of FTX Group."

It is worth noting that, "The lawsuit also notes that FTX's former CEO, Sam Bankman-Fried, often worked at S&C's New York offices, "that's how close the relationship" between the firms was"


Cointelegraph. FTX creditors sue bankruptcy law firm S&C alleging fraud involvement. Link


The cover image does not belong to the author: @lupafilotaxia, the image was taken from: Cointelegraph