FTX Executives Sue Co-Founders Amidst Failed FTX Stocks Project

Source: Bitcoin.com

“Court documents filed on May 17, 2023, reveal that current executives overseeing FTX and its subsidiary, Alameda Research, have initiated a lawsuit against Sam Bankman-Fried, the former CEO of FTX, Nishad Singh, FTX’s former director of engineering, and Zixiao ‘Gary’ Wang, co-founder of FTX. The legal action stems from the exchange’s ambitious FTX Stocks project, which was being pursued alongside the acquisition agreement with Embed, a stock clearing service.” (05/18/23)