TechFlow news — According to documents filed on December 22, the FTX debtors stated they have reached a proposed settlement with former FTX CEO SBF regarding claims involving equity settlement platform Embed.
The proposed settlement will be implemented promptly, recovering all assets held by SBF in the Embed account and returning related rights to the plaintiffs. This proposed settlement resolves only specific aspects of the bankruptcy case related to Embed and SBF, not all assets currently being handled by the exchange.
Previously, FTX US acquired Embed for $220 million in June 2022, issuing two Simple Agreements for Future Equity (SAFEs) to SBF as part of the cryptocurrency exchange's acquisition.
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