According to Reuters, FTX is suing Michael Kives, a former Hilary Clinton aide, and Michael Kives' investment firm in bankruptcy court in Wilmington, Delaware, in an attempt to recover $700 million in alleged misappropriation of FTX funds. dollar investment. FTX said its founder, Sam Bankman-Fried (SBF), was a "splitchive sponsor who provided cash to Michael Kives, K5 Global, K5 Global's company, and K5 co-founder Bryan Baum, as part of its fraudulent use of company assets to obtain Part of a scheme for self-interest. SBF, which authorized the transfer of $700 million to K5 entities in 2022, relied on K5’s celebrity and business connections in an effort to secure rescue financing in the days leading up to FTX’s bankruptcy in November 2022, the lawsuit alleges.