Hollywood insider and Clinton ally could lose $300 million in FTX debacle: insiders

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 — a former Tinseltown agent who has served as an aide to Bill and Hillary Clinton, advised Warren Buffett and helped with Kendall Jenner’s 818 Spirits — runs a venture firm called K5 Global that got $300 million earlier this year from FTX’s now-defunct investment arm, Alameda Research, according to reports. 

FTX’s disgraced founder Sam Bankman-Fried and his ex-girlfriend Caroline Ellison, also Alameda’s ex-CEO, plowed billions of dollars not only into other crypto platforms but also media and entertainment outfits. Recipients included Vox — which got a grant for a reporting project — and the online news 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.

But it’s FTX’s massive investment in Kives’ 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 — who has managed Ariana Grande, Justin Bieber and Demi Lovato — 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.

READ MORE

Join now!