FTX Group paid $25 million to settle whistleblowers’ claims, including market manipulation allegations: examiner’s report | Headlines | News | CoinMarketCap
05/24/2024 03:11
Bankrupt cryptocurrency exchange FTX paid over $25 million to seven unnamed whistleblowers who found issues with the firm, according to an examiner's …
The Block Crypto News20 minutes ago
Foresight
Brett
Brett
Block
Brett
Published on May 23, 2024 19:51 GMT+00:00edited on May 23, 2024 19:54 GMT+00:00
Bankrupt cryptocurrency exchange FTX paid over $25 million to seven unnamed whistleblowers who found issues with the firm, according to an examiner's report released on Thursday.
One of those whistleblowers was described as an executive at FTX.US, according to a report filed by former Robert Cleary on Thursday. Bankruptcy Judge John Dorsey appointed Cleary, who prosecuted the Unabomber case in the late 1990s, as examiner after an appeals court ruled in January that FTX had to be investigated by an independent examiner.
The unnamed whistleblower said the FTX Group "misled regulators and investors and lacked adequate corporate structure" and wrote to former CEO Sam Bankman-Fried, former FTX engineer Nishad Singh and former FTX lawyer Dan Friedberg about their concerns.
…