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In June 2022, FTX US finalized the $220 million acquisition of Embed, accompanied by the issuance of two future equity agreements to Sam Bankman-Fried. The bankruptcy case involving defunct cryptocurrency exchange FTX has seen a distinct proposition by the debtors, outlining a separate resolution related to the acquisition of stock-clearing platform Embed.

 

 

According to a filing submitted on December 22 to the United States Bankruptcy Court for the District of Delaware, FTX debtors disclosed that they have put forth a proposed settlement exclusively addressing the claims against former CEO Sam “SBF” Bankman-Fried in the Embed Proceeding. Despite minimal due diligence conducted by FTX’s leadership, the crypto exchange successfully acquired Embed for $220 million through its U.S. arm

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