FTX Customer Says Hedge Fund Cheated Him on Bankruptcy Gains

(Bloomberg) — An FTX customer sued the hedge fund that bought his claim in the bankrupt cryptocurrency exchange, claiming that Olympus Peak underpaid him while it stands to make more than $1 million from their deal.

Nikolas Gierczyk of California says Olympus Peak owes him a bigger payout after he sold his $1.59 million claim last year to the hedge fund at a “substantial 42% discount” and FTX this year won approval of a bankruptcy reorganization plan that is expected to repay customers from 129% to as much as 146%.