FTX Settles Dispute Over its European Subsidiary
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Bankrupt crypto exchange FTX has reached a resolution in a dispute over its European division, allowing the company to be returned to its previous owners.

As reported by Reuters on February 24, FTX has agreed to sell FTX Europe back to its founders for $32.7 million, as it has reportedly had difficulty finding other buyers.

Recall that Swiss startup Digital Assets AG, later renamed FTX Europe, was acquired for $323 million back in 2021.

Before agreeing to the sale, FTX had sought to recover the funds it had spent on the acquisition. The platform had filed a lawsuit alleging the purchase was financed with customer funds and argued that the price was too high.

However, the startup's founders, Patrick Gruhn and Robin Matzke, denied these claims and retaliated by seeking $256.6 million from FTX. The dispute was finally settled on February 21.

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