FTX files $700 million lawsuit against investment firm linked to ex-Clinton aide.

Cryptocurrency exchange FTX has sued former Hillary Clinton aide Michael Kives and his investment firm K5 Global for $700m, alleging that the funds were invested with misappropriated FTX assets. FTX founder Sam Bankman-Fried authorised the transfer of the funds to K5 entities in 2022, and leaned on K5's celebrity and business connections in his effort to obtain rescue financing in the days before FTX went bankrupt in November 2022. Bankman-Fried has pleaded not guilty to charges alleging that he defrauded FTX customers by using their funds to prop up his own risky investments.