My initial thought, having some experience with this kind of thing, is that this is basically a grab by the plaintiff's law firm to get some legal fees while they can from the corpse of FTX. It would be nice if the bankrupcy court would be able to get these dismissed to save resources to actually pay out customers.
Did anyone read the customer service agreement before placing their assets into the loving care of FTX?<p>Of course not, they were too busy getting rich quick. Anyway, this is just like placing assets into a licensed and regulated broker account --- right?<p>My guess is that their customer service agreement gave FTX full rights to use the assests in any way *they* wanted --- effectively as if they "owned" them.<p>End result: A lot of fools and their money are now parted.