FTX's bankruptcy led to 23 lawsuits aimed at recovering funds, alleging influence-buying efforts to prop up its founder's image amid financial struggles.
The lawsuit claims that these investments benefited only Bankman-Fried's standing in politics and finance, rather than the company's operations or creditors.
FTX asserts it acquired a 30% stake in SkyBridge in September 2022, shortly before its bankruptcy, indicating hasty decisions by management amid fiscal chaos.
FTX paid Scaramucci $12 million to sponsor his conferences and invested another $10 million in the SkyBridge Coin Fund, seeking to boost fundraising efforts.
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