Orrick Corporate Team Advises K5 Global in Settlement with FTX

We are pleased to announce that Orrick served as corporate counsel to venture capital firm K5 Global in its recent settlement with FTX, which was announced on January 31, 2025. The settlement resolves the lawsuit brought by FTX in June 2024 and enables the parties to collaborate in a mutually beneficial manner to maximize recoveries for FTX customers and stakeholders.

John J. Ray III, Chief Executive Officer of the FTX Recovery Trust said in a statement: "We are pleased to have reached an agreement with K5. Having spent extensive time with Michael Kives and Bryan Baum, co-founders of K5, it is clear that K5 is a bright spot in the FTX portfolio, and the expected strong performance of their investments will be a key driver in the recovery efforts for our stakeholders."

K5 Global co-founders Michael Kives and Bryan Baum added: "We appreciate the extraordinary professionalism and collaboration of John Ray and are grateful to have reached this settlement. We are proud of the role that K5 will play in the recovery process for all FTX stakeholders."

ABOUT K5

K5 Global is a venture capital firm and incubation studio that supports founders across the business lifecycle. The firm, founded in 2018 by Michael Kives and Bryan Baum, has deployed over $1 Billion in capital, which it invests across funding stages.

THE TEAM

The Orrick corporate team advising K5 Global on the transaction was led by Technology Companies Group Partner Max Cantor and included Justin Yi, Ken Rasamny, Max Hyatt, Matt Janosko, Delia Bennet, Marley Brison, Pete Elias, Laura Metzger and Bill Hughes.

Latham & Watkins LLP served as litigation counsel to K5.

LEARN MORE

For more details see:

• Official press release: PR Newswire
• Coverage in the Wall Street Journal