FTX Initiates Legal Action Against Anthony Scaramucci

The embattled digital asset exchange FTX Derivatives Exchange, currently navigating bankruptcy proceedings, has directed its legal arsenal at Anthony Scaramucci. FTX, which made headlines for its financial tumult, is seeking to reclaim as much as $67 million invested in Scaramucci’s enterprise, SkyBridge Capital.

The Last-Minute Legal Gambit by FTX

A Bloomberg article details the lawsuit initiated on November 8 by the company, now overseen by John Ray III, in what appears to be a last-ditch effort prior to concluding its bankruptcy process. During more prosperous times, FTX’s Sam Bankman-Fried (SBF) had maintained a seemingly amicable mutual rapport with Scaramucci.

FTX alleges that the two invested around $67 million in ostentatious investments with links to SkyBridge Capital. FTX’s legal action also targets entities including Cryptocom and the Mark Zuckerberg-founded political advocacy group, FWD.US. It’s critical to highlight that FWD.US was established by the tech mogul behind Facebook, Mark Zuckerberg.

The legal documents suggest that the notorious ‘crypto winter’ of early 2022 instigated a spree of influence-peddling by Bankman-Fried, with Scaramucci serving as a pivotal ally after SkyBridge Capital’s assets under management dwindled from $9 billion to a mere $2.2 billion.

During this period, FTX contemplated acquiring a 30% share in SkyBridge Capital, a strategic move seemingly aimed at harnessing Scaramucci’s considerable clout in political and social circles. The exchange’s present efforts are aimed at recovering the substantial sum poured into SkyBridge in 2022.

In an ironic twist, the lawsuit comes as Cryptocom recently commenced its own legal battle against the US SEC, citing misuse of regulatory power. The complaint subtly touches on the involvement of the competing crypto exchange, though not in explicit terms.

FTX’s Shifts and Milestones Over Two Eventful Years

FTX’s legal maneuvers extend to multiple parties as it seeks to gather sufficient resources to settle its debts with creditors. The bankruptcy court has recently sanctioned the company’s plans to compensate creditors, with around $12 billion earmarked for distribution, as Coingape reports.

Meanwhile, key players behind the exchange’s downfall are currently incarcerated. SBF is serving a 25-year sentence, while accomplices Ryan Salame and Caroline Ellison received 7.5 years and 2 years, respectively. Nishad Singh avoided imprisonment through cooperation with investigators, and Gary Wang is appealing for leniency.