{"id":519662,"date":"2022-12-02T00:29:11","date_gmt":"2022-12-01T21:29:11","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/michael-kives-could-lose-300m-in-ftx-debacle-insiders\/"},"modified":"2022-12-02T00:29:11","modified_gmt":"2022-12-01T21:29:11","slug":"michael-kives-could-lose-300m-in-ftx-debacle-insiders","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/michael-kives-could-lose-300m-in-ftx-debacle-insiders\/","title":{"rendered":"#Michael Kives could lose $300M in FTX debacle: insiders"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a35b21b2aa1d\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a35b21b2aa1d\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/michael-kives-could-lose-300m-in-ftx-debacle-insiders\/#%E2%80%9CMichael_Kives_could_lose_300M_in_FTX_debacle_insiders%E2%80%9D\" >&#8220;Michael Kives could lose $300M in FTX debacle: insiders&#8221;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9CMichael_Kives_could_lose_300M_in_FTX_debacle_insiders%E2%80%9D\"><\/span>&#8220;Michael Kives could lose $300M in FTX debacle: insiders&#8221;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div>\n<aside class=\"single__inline-module alignleft\">\n        <\/aside>\n<p>As creditors in the FTX bankruptcy case look to claw back cash from the fallen crypto giant, an uncomfortable spotlight is focusing on a well-connected Hollywood insider with ties to the Clintons, the Kardashians and Elon Musk.<\/p>\n<p>Michael Kives \u2014 a former Tinseltown agent who has\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/d8holdingscorp.com\/person-details\/default.aspx?ItemId=e901e0cf-ca47-42d6-8651-53aca29a96b2\">served as an aide<\/a>\u00a0to Bill and Hillary Clinton, advised Warren Buffett and helped with Kendall Jenner\u2019s 818 Spirits \u2014 runs a venture firm called K5 Global that got $300 million earlier this year from FTX\u2019s now-defunct investment arm, Alameda Research,<a>\u00a0according to reports.\u00a0<\/a><\/p>\n<p>FTX\u2019s disgraced founder Sam Bankman-Fried and his ex-girlfriend Caroline Ellison, also Alameda\u2019s ex-CEO, plowed billions of dollars not only into other crypto platforms but also <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a> and entertainment outfits. Recipients included Vox \u2014 which got a grant for a reporting project \u2014 and the online <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> site Semafor, which has faced demands that it return cash it admitted it got from the 30-year-old Bankman-Fried in a $25 million funding round. <\/p>\n<p>But it\u2019s FTX\u2019s massive investment in Kives\u2019 firm that makes K5 Global a juicier target for creditors, insiders say. Chatter has likewise circulated that Kives had been promoting FTX to his high-profile circle of friends including talent agents Scooter Braun \u2014 who has managed Ariana Grande, Justin Bieber\u00a0and Demi Lovato \u2014 and Guy Oseary, who has managed Madonna, U2 and the Red Hot Chili Peppers. Neither Oseary nor Braun responded to request for comment. Kives did not respond to request for comment.<\/p>\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-3.jpg?w=674\" alt=\"Michael Kives\" class=\"wp-image-24815762\" width=\"323\" height=\"490\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-3.jpg?quality=75&amp;strip=all&amp;w=646 646w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-3.jpg?quality=75&amp;strip=all&amp;w=484 484w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-3.jpg?quality=75&amp;strip=all&amp;w=323 323w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-3.jpg?quality=75&amp;strip=all&amp;w=161 161w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-3.jpg?quality=75&amp;strip=all 1024w\" sizes=\"auto, (max-width: 323px) 100vw, 323px\"\/><figcaption>Michael Kives launched K5 Global in 2018.<\/figcaption><figcaption><span class=\"credit\">Vivien Killilea<\/span><\/figcaption><\/figure>\n<\/div>\n<p>\u201cEverywhere I go I hear his name,\u201d one well-connected tech insider said of Kives (pronounced \u201ckey-vess\u201d).<\/p>\n<p>As FTX\u2019s new CEO\u00a0John Ray III \u2014 a restructuring guru who helped sort through the Enron mess \u2014 sifts through the bankrupt company\u2019s balance sheet, insiders say he could determine that FTX\u2019s recent investments amount to fraudulent conveyance \u2014 the illegal transferring of assets to put them beyond the reach of creditors \u2014 and are thus subject to clawbacks.<\/p>\n<p>\u201cThe new management is 100% going to go after anybody who got paid by FTX,\u201d another insider close to the situation said. \u201cIt\u2019s well within the statute of limitations to claw the K5 assets back.\u201d<\/p>\n<p>\u201cThey will 100% go after Kives to get the money back,\u201d the source added.<\/p>\n<p>Adding to the intrigue: Kives is a close personal friend of Musk. When the Tesla billionaire stays in Los Angeles, he often crashes at Kives\u2019 Beverly Hills mansion, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2022\/10\/11\/style\/elon-musk-social-calendar.html\">according to the New York Times<\/a>. <\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"682\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/elon-musk-twitter.jpg?w=1024\" alt=\"Elon Musk\" class=\"wp-image-24861164\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/elon-musk-twitter.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/elon-musk-twitter.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/12\/elon-musk-twitter.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Elon Musk often crashes at Kives\u2019 Beverly Hills mansion, according to the New York Times.<\/figcaption><figcaption><span class=\"credit\">AP<\/span><\/figcaption><\/figure>\n<p>K5 Global has been a major backer of companies founded by Musk. According to the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.ft.com\/content\/db415ae9-938d-45bd-a8b7-510ce2edc943\">Financial Times<\/a>, at least $225 million of K5 Global\u2019s assets are sitting in SpaceX, the Boring Co. and other Musk-led ventures. <\/p>\n<p>It\u2019s unclear whether Musk\u2019s companies could be subject to the clawbacks, or whether any of the cash given to his companies originally came from FTX, sources said. However, when Musk was securing Twitter financing in April, Kives texted Musk, \u201cIt could be cool to do this with Sam Bankman-Fried,\u201d according to a trove of text messages that were released during the \u00a0Delaware Court of Chancery case between Musk and Twitter. <\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"741\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-5.jpg?w=1024\" alt=\"kives \" class=\"wp-image-24815706\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-5.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-5.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-5.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Kives worked as an interim spokesperson for Bill Clinton and raised millions for Hillary\u2019s 2016 presidential bid.<\/figcaption><figcaption><span class=\"credit\">Getty Images<\/span><\/figcaption><\/figure>\n<p>Musk has denied a Semafor report claiming that the\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.semafor.com\/article\/11\/22\/2022\/sam-bankman-fried-elon-and-a-secret-text\">Bankman-Fried owned $100 million in Twitter<\/a>, and called out co-founder Ben Smith for failing to disclose how much Bankman-Fried, known as SBF, invested in his own company.<\/p>\n<p>Kives worked as an agent at Creative Artists Agency where he represented clients including Kate Hudson, Warren Buffett, Bruce Willis and Jessica Alba. From there, he struck out on his own as an investor and launched K5 Global, backing Silicon Valley giants including Uber, Airbnb and Bumble, according to the company\u2019s website.<\/p>\n<p>But Kives\u2019 ties extend beyond Hollywood. A longtime Clinton ally, Kives has helped raise tens of millions for Hilary Clinton. Kives was an interim spokesperson for President Bill Clinton after he left office in 2003; he then served alongside Huma Abedin in Senator Hillary Clinton\u2019s DC office, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/d8holdingscorp.com\/person-details\/default.aspx?ItemId=e901e0cf-ca47-42d6-8651-53aca29a96b2\">according to a bio<\/a> Kives posted online.<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"713\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-4.jpg?w=1024\" alt=\"warren Buffett\" class=\"wp-image-24815723\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-4.jpg?quality=75&amp;strip=all&amp;w=1536 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-4.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-4.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Michael Kives represented Warren Buffett at CAA.<br \/>\n<\/figcaption><figcaption><span class=\"credit\">WireImage<\/span><\/figcaption><\/figure>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1024\" height=\"698\" src=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-1.jpg?w=1024\" alt=\"FTX logo\" class=\"wp-image-24815641\" srcset=\"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-1.jpg?quality=75&amp;strip=all&amp;w=1535 1536w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-1.jpg?quality=75&amp;strip=all 1024w, https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-1.jpg?quality=75&amp;strip=all&amp;w=512 512w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\"\/><figcaption>Those who received investments from FTX could see the money clawed back.<\/figcaption><figcaption><span class=\"credit\">Bloomberg via Getty Images<\/span><\/figcaption><\/figure>\n<p>Now, Kives may soon be getting calls from another kind of fundraiser \u2014 a new FTX CEO who specializes in collections.<\/p>\n<p>\u201cThe whole reason you <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>oint a restructuring guy is to recover money for creditors and investors,\u201d one attorney close to the situation told The Post.\n                        <\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/nypost.com\/2022\/12\/01\/michael-kives-could-lose-300m-in-ftx-debacle-insiders\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;Michael Kives could lose $300M in FTX debacle: insiders&#8221; As creditors in the FTX bankruptcy case look to claw back cash from the fallen crypto giant, an uncomfortable spotlight is focusing on a well-connected Hollywood insider with ties to the Clintons, the Kardashians and Elon Musk. Michael Kives \u2014 a former Tinseltown agent who has\u00a0served&#8230;<\/p>\n","protected":false},"author":1,"featured_media":519663,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/nypost.com\/wp-content\/uploads\/sites\/2\/2022\/11\/hollywood-insider-and-clinton-ally-could-lose-300m-FTX-homepage.jpg?quality=75&strip=all&w=1024","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[135234,89897,136509,72185,82028,108296,72944,106544,73395],"class_list":["post-519662","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-ftx","tag-sam-bankman-fried","tag-12-1-22","tag-bill-clinton","tag-chelsea-clinton","tag-enron","tag-hillary-clinton","tag-on-the-money","tag-vox-media"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/519662","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=519662"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/519662\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/519663"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=519662"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=519662"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=519662"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}