It has been almost one year since the FTX crypto exchange filed for bankruptcy and the contagion brought about by its collapse continues to unfold.
So far, the exchange has gone after various companies and institutions in a bid to recover the billions of dollars owed to its creditors and formulate a repayment plan. But this time around, the bankrupt crypto company has turned its attention toward promotional payments paid to celebrities and the like.
FTX Wants $18 Million In Promotional Payments
During its peak back in 2021, the FTX exchange was known for its far-reaching marketing campaigns. Celebrities were not left out as the likes of Tennis star Naomi Osaka and Basketball legend Shaquille O’Neal were also brought on by the exchange for promotional purposes. These deals saw the stars receive millions of dollars in prepayments, and now, the exchange wants it back.
FTX’s intent to claw back these promotional payments was made in a massive August 31 filing with the court. In total,
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