FTX files complaint to retrieve $700M from “super-networker” Bankman-Fried courted for connections

Bankrupt crypto exchange FTX filed a complaint with the court asking to retrieve $700 million from, Michael Kives, a high–profile networker approached by Sam Bankman-Fried, and a company he co-owned,  K5 Global, according to a June 22 court filing.

FTX alleges that its founder Sam Bankman-Fried (SBF), pursued the deal to leverage Kives’ high-value network to bolster his political and social influence. Bankman-Fried resigned as FTX CEO in November 2022 and was replaced by John J. Ray III.