🧵 1. Crypto exchange FTX sues LayerZero Labs, seeks $21M recovery over alleged illegal fund withdrawals prior to FTX's shutdown. #crypto
🧵 1. Crypto exchange FTX sues LayerZero Labs, seeks $21M recovery over alleged illegal fund withdrawals prior to FTX's shutdown. #crypto
🧵 2. Lawsuit reveals transactions between Alameda Ventures and LayerZero, including $70M stake acquisition and $25M token purchase.
🧵 3. LayerZero loaned $45M to Alameda parent company, seeking deal for stake return during FTX crisis.
🧵 4. FTX alleges LayerZero exploited Alameda Ventures, seeks recovery of $21.37M from LayerZero and more from former COO and subsidiary.
🧵 5. FTX not only suing LayerZero Labs but attempting to recoup billions in funds from subsidiaries before the collapse.
🧵 Read more at: https://cointelegraph.com/news/ftx-sues-layer-zero-labs-seeks-recover-millions-bankruptcy