FTX lawsuit names top VC firms for ‘aiding, abetting’
“Without the multinational VC defendants, the largest financial fraud in US history would not have occurred,” the plaintiffs alleged. The VC firms did not comment on the lawsuit.
Representative image (File)
SAN FRANCISCO: Several top venture capital firms like Temasek, Sino Global, and Softbank have been named as defendants in a class-action lawsuit filed by crypto investors in the US for their roles in the collapse of crypto exchange FTX.
The lawsuit, filed in the US District Court for the Northern District of California, accuses the VC firms of “aiding and abetting” and possibly “actively participating” in the FTX Group’s massive multi-billion-dollar global fraud, as per a report..
“Without the multinational VC defendants, the largest financial fraud in US history would not have occurred,” the plaintiffs alleged. The VC firms did not comment on the lawsuit.