FTX Sues Sam Bankman-Fried's Parents Over Misappropriated Funds

FTX, the bankrupt cryptocurrency exchange, has filed a lawsuit against the parents of its founder, Sam Bankman-Fried, accusing them of enriching themselves with money their son stole from customers. The lawsuit seeks to recover millions of dollars and alleges that the parents received a $10 million cash gift and a $16.4 million home in the Bahamas purchased by the exchange. FTX's lawyers claim that the couple either knew or ignored red flags indicating their son's involvement in a fraudulent scheme. The parents' lawyers deny the allegations, calling them false and a dangerous attempt to intimidate. Sam Bankman-Fried is scheduled for a criminal trial in October.