Crypto Companies Battle Over Bankruptcy Funds and Mediation.

The liquidator of bankrupt crypto exchange FTX is seeking to retrieve nearly $4 billion for creditors from another bankrupt crypto firm, Genesis Global Capital (GGC), over payments made shortly before FTX's collapse amid allegations of fraud. GGC, which filed for bankruptcy in January, only has about $5 billion in assets. If the court allows FTX to go ahead, a zero-sum legal battle will ensue. The impending legal battle underscores how tightly connected major crypto players had become before trouble started brewing in the markets a year ago.