Reported Cointelegraph, Eighteen prominent venture capital investment firms, including notable names such as Temasek, Sequoia Capital, Sino Global, and Softbank, have been listed as defendants in a class action lawsuit recently filed in Miami. This lawsuit pertains to their connections with the defunct cryptocurrency exchange, <a target="_blank" href="https://tokeninsight.com/en/news?tag=FTX" rel="noopener noreferrer nofollow">FTX</a>. 
The legal action, initiated on August 7th, asserts that these investment entities played a role in 'assisting and abetting' FTX in fraudulent activities. It alleges that the defendants utilized their substantial resources, authority, and influential positions to facilitate the expansion of FTX into a multi-billion dollar enterprise. 
The lawsuit noted that the FTX cryptocurrency exchange violated several securities laws and stole customers' funds while the defendant VC firms especially the likes of Temasek offered an illusive picture of the exchange claiming they have done their due diligence. 
&nbsp; 
<a target="_blank" href="https://tokeninsight.com/en/cryptocurrencies" rel="noopener noreferrer nofollow">TokenInsight</a> is dedicated to covering the most important and cutting-edge trends in the world of crypto. If you have information to share with us, please feel free to contact our email <a href="mailto:news@tokeninsight.com" rel="noopener noreferrer nofollow">news@tokeninsight.com</a>. Your trust will be well respected.

Temasek, Sequoia Capital, Softbank and 15 VCs Being Sued for "Assisting and Abetting" FTX

TokenInsight

Autres articles publiés le 9 août 2023

Enjin Coin Price Prediction: Can ENJ Make A Comeback Again?

Tokenizing the Future: Unleashing the Potential of Digital Assets in Crypto and Web3

ADA and DOGE Added to Binance with 20x Leverage Altcoin

Ripple CTO Comments on SEC’s List of ‘Crypto Securities’ – No XRP on It

Bank of Russia to Debut Digital Ruble Pilot on August 9!

Shiba Inu (SHIB) Smashes Big Milestone as Epic Era Unfolds

Join our free newsletter for daily crypto updates!