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Binance subpoenas Kevin O'Leary and Michael Lewis in $1.76bn FTX clawback case
Binance and Changpeng Zhao have sought records from investor Kevin O'Leary, author Michael Lewis, BDO and a former Forbes researcher as they defend FTX's $1.76bn clawback lawsuit.
Why it matters: The subpoenas widen the evidence fight over whether FTX can reclaim $1.76bn from Binance, a dispute that could return assets to creditors still being repaid.
Key points
- Bloomberg Law reported the subpoenas on 5 Nov, citing a notice filed 4 Nov in the US Bankruptcy Court for the District of Delaware.
- O'Leary disclosed an FTX promotional deal worth about $15m and said he had put about $9.7m into crypto.
- Chief US Bankruptcy Judge Karen B. Owens allowed the recovery claims to proceed in an opinion dated 24 July.
Binance and its founder Changpeng Zhao have subpoenaed Kevin O'Leary and Michael Lewis in the $1.76bn FTX clawback lawsuit, Bloomberg Law reported on 5 Nov, citing a notice filed the day before in the US Bankruptcy Court for the District of Delaware.
The estate alleges Alameda Research funded the deal with FTX's FTT token, Binance's BNB and the BUSD stablecoin while FTX was already insolvent, and calls it a fraudulent transfer.
O'Leary was an FTX investor and paid spokesperson before the exchange failed in November 2022. The following month he disclosed a promotional agreement worth about $15m, said he had put roughly $9.7m into cryptocurrency and held more than $1m in FTX equity that became worthless. Lewis spent time with Sam Bankman-Fried while researching his book, released in October 2023.
What to watch: The clawback dispute continues in the Delaware bankruptcy court, where the repayment claims against Zhao and four Binance entities remain unresolved.
Live updates on NewsFeeds:RegulationDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)
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