{"id":82752,"date":"2023-08-08T11:04:57","date_gmt":"2023-08-08T08:04:57","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=82752"},"modified":"2025-09-12T06:58:10","modified_gmt":"2025-09-12T03:58:10","slug":"media-sino-global-files-67-million-lawsuit-against-ftx","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/media-sino-global-files-67-million-lawsuit-against-ftx\/","title":{"rendered":"Media: Sino Global files $67 million lawsuit against FTX"},"content":{"rendered":"<p>Sino Global Capital, a venture firm, filed suit against FTX on behalf of the Sino\u2019s Liquid Value fund, seeking $67 million. It was <a href=\"https:\/\/u1f987.com\/en\/news\/sino-global-capital-launches-200m-fund-for-defi-and-nft-infrastructure-investments\">created<\/a> jointly with the former head of the collapsed exchange, Sam Bankman-Fried, in 2021. This is reported by <a href=\"https:\/\/www.coindesk.com\/markets\/2023\/08\/07\/sino-global-files-67m-claim-against-ftx-alameda\/\">CoinDesk<\/a>.<\/p>\n<p>The organization targeted high-net-worth individuals and planned to raise $200 million. In January 2022, the fund raised $90 million in financing, with FTX Trading acting as the lead investor.<\/p>\n<p>Bankman-Fried was listed as an indirect investor alongside Alameda Research and its subsidiary Alameda Ventures. Sino Global initially noted that its direct interactions with the exchange were limited to storing &#8216;a seven-figure sum&#8217;.<\/p>\n<p>Since 2023, Sino\u2019s Liquid Value has not been registered with the U.S. Securities and Exchange Commission, but remains active under Cayman Islands jurisdiction.<\/p>\n<p>Soon after the collapse of the trading platform, the venture firm <a href=\"https:\/\/twitter.com\/SinoGlobalCap\/status\/1592418951115329536\">published a statement<\/a> in which it said it trusted FTX as a good player aiming to move the industry forward.<\/p>\n<p>In mid-July Sino Global <a href=\"https:\/\/www.bloomberg.com\/news\/articles\/2023-07-19\/ex-ftx-chief-operating-officer-constance-wang-joins-vc-firm-sino-global-capital?in_source=embedded-checkout-banner&#038;sref=3REHEaVI\">announced<\/a> the appointment of former FTX chief operating officer Constance Wang as head of the games division.<\/p>\n<p>Earlier, FTX and the crypto-lending platform Genesis <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-and-genesis-reach-in-principle-agreement-to-settle-bankruptcy-claims\">reached<\/a> a settlement in principle of the claims brought against the crypto exchange in its bankruptcy case.<\/p>\n<p>In August, lawyers for the company <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-proposes-restarting-its-offshore-exchange\">presented a plan<\/a> to relaunch the offshore exchange with access for users outside the United States. Later, FTX creditors <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-creditors-criticise-proposed-restructuring-plan\">criticised<\/a> the proposal.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sino Global Capital, a venture firm, filed a lawsuit against FTX on behalf of the Sino\u2019s Liquid Value fund, seeking $67 million.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,1236],"class_list":["post-82752","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-ftx"],"aioseo_notices":[],"amp_enabled":true,"views":"29","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82752","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=82752"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82752\/revisions"}],"predecessor-version":[{"id":82753,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/82752\/revisions\/82753"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=82752"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=82752"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=82752"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}