FTX Launches Legal Battle Against NFT Firms Over $1.3M Token Dispute

FTX, the bankrupt cryptocurrency exchange, has taken legal action against NFT Stars Limited and Kurosemi Inc. for allegedly failing to deliver tokens tied to a $1.3 million agreement involving Delysium. The lawsuit, announced on April 28, 2025, signals the start of a broader effort to recover outstanding digital assets from token issuers. FTX has also warned of additional lawsuits against non-responsive parties as part of its asset recovery campaign.

FTX Pursues Legal Action Against NFT Firms in $1.3M Token Dispute

FTX, the bankrupt cryptocurrency exchange, has initiated legal proceedings against NFT Stars Limited and Kurosemi Inc. for allegedly failing to deliver tokens tied to a $1.3 million agreement involving Delysium. The lawsuit, announced on April 28, marks the beginning of a broader campaign to recover outstanding digital assets from token issuers.

The exchange warned of additional lawsuits against non-responsive parties, emphasizing a preference for cooperative resolutions. "We urge token and coin issuers to return assets that rightfully belong to FTX," the company stated, signaling readiness to escalate matters through litigation.

This move underscores FTX’s aggressive posture in reclaiming assets post-collapse, with implications for NFT-related partnerships across the crypto sector. Observers anticipate Ripple effects as other exchanges scrutinize contractual obligations with token projects.

Solana (SOL) Rallies 15% Amid ETF Speculation and Regulatory Shifts

Solana’s SOL token surged 15% over the past week, extending its 18% monthly gain as bullish momentum builds. The rebound from sub-$100 levels during May’s market downturn reflects growing Optimism around the blockchain’s ecosystem.

Regulatory tailwinds may further fuel SOL’s ascent. The appointment of crypto-friendly Paul Atkins to the SEC coincides with heightened anticipation for a potential Solana ETF decision. market participants interpret the leadership change as a possible softening of the agency’s stance toward digital assets.

SOL’s technical resurgence aligns with broader institutional interest in alternative layer-1 blockchains. The token’s performance now hinges on two catalysts: ETF approval prospects and sustained network activity following its recovery from last year’s FTX-related contagion.