The FTX bankruptcy management team has initiated 23 lawsuits against multiple entities, targeting Binance, Anthony Scaramucci and his SkyBridge Capital, Crypto.com, as well as the lobbying organization Fwd.us backed by Mark Zuckerberg. These lawsuits aim to recover billions of dollars lost due to the collapse of FTX, with the lawsuit against Binance and former CEO Changpeng Zhao amounting to as much as 1.76 billion.

PANews reported on November 13 that, according to Forbes, the FTX bankruptcy management team has initiated 23 lawsuits against multiple entities, targeting Binance, Anthony Scaramucci and his SkyBridge Capital, Crypto.com, and the lobbying organization Fwd.us supported by Mark Zuckerberg. These lawsuits aim to recover billions of dollars lost due to the collapse of FTX, with the lawsuit against Binance and former CEO Changpeng Zhao amounting to as much as 1.76 billion.

The lawsuits indicate that FTX founder Sam Bankman-Fried engaged in "influence buying" through sponsorships and donations to maintain his reputation and conceal the company's financial crisis. For instance, FTX had invested in SkyBridge before its collapse and gained investor support with Scaramucci's assistance. These expenditures are alleged to have provided "little to no benefit" to FTX and its creditors. For the affected investors, these lawsuits may represent a glimmer of hope for recovering their losses, although the litigation process is complex and the outcomes uncertain.

The FTX bankruptcy management team has initiated 23 lawsuits targeting Binance, Anthony Scaramucci and his SkyBridge Capital, Crypto.com, and others.