Administrators for FTX are seeking to recover more than $71 million from the bankrupt exchange's philanthropic and life science arms.
, and Sam Bankman-Fried's Latona life sciences fund, received around $71.5 million from FTX and Alameda Research.
Investment was made in the life sciences field, between February and October 2022, in companies such as Lumen Bioscience, GreenLight Biosciences, Genetic Networks and 4J Therapeutics.In an effort to recover funds for creditors, lawyers representing"The FTX Foundation was the philanthropic arm of the FTX group of companies, and Latona was a sham non-profit company organized in the Bahamas.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple stock adds $71 billion in market value on news of 'Apple GPT' AIApple just added $71 billion in market value on news it's developing an 'Apple GPT' AI
Read more »
FTX Seeks to Recover $71M from Its Philanthropic and Life Science ArmsThe firms funneled corporate funds to other organizations on behalf of their founder Sam Bankman-Fried’s 'personal aggrandizement,' a court filing shows.
Read more »
Former FTX COO Wang resurfaces at Sino Global: BloombergFormer FTX executive Constance Wang has resurfaced at crypto venture firm Sino Global Capital.
Read more »
Australia's financial regulator cancels license for FTX's local entityAustralia's securities regulator ASIC has finally canceled the local financial license for FTX_AU which it previously suspended following the bankruptcy of FTX_Official.
Read more »
Post-FTX, senators want Gensler to do more to police crypto industryA powerful Senate Democrat and outspoken Republican on a committee that controls the Securities and Exchange Commission's pressed the SEC chair about doing more to police the crypto industry.
Read more »