Sino Global has decided to File a lawsuit against the collapsed FTX crypto exchange

Sino Global is a venture capital company. On behalf of her fund Sino's Liquid Value, she decided to file a lawsuit against FTX. It refers to the reimbursement of $67 million. this is written by CoinDesk.

Why did the company decide to file a lawsuit

Sino's Liquid Value Fund was created together with the former head of FTX — Sam Bankman-Freed two years ago. The organization has a target audience of wealthy people. She was going to receive $200 million from investors. At the beginning of 2022, the fund invested $ 90 million. At the same time, FTX Trading became the main investor.

Bankman-Fried was listed as an indirect contributor along with Almeda Research, as well as her daughter Ventures. Initially, the foundation claimed that it directly interacts with the crypto exchange. However, she kept a seven-figure sum there.

Since this year, the fund no longer has registration with the SEC office. However, it works within the framework of the legislation of the Cayman Islands.

After the exchange declared bankruptcy, the venture company said that it trusted it, considering the platform a good player who sought to move the industry into the future.

Last month, the venture company announced that Constance Wang, who was the chief operating officer of the crypto exchange, took the position of head of the video games department.

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