Cointelegraph owner sues founder of ‘Sam coins’ Maps and Oxygen

Cointelegraph owner Gregory Fishman is suing the CEO of FTX-linked Crypto projects Maps and Oxygen over claims that he misappropriated funds and stole his ideas, reports CoinDesk.

According to “a person familiar with the matter,” in the case, originally filed in November last year, Fishman alleges that the projects’ CEO Alex Grebnev entered into a business relationship with him only to sever ties when FTX chief Sam Bankman-Fried (SBF) invested heavily in the two projects.

He also claims that Grebnev “misappropriated funds backing certain crypto projects” and that he stole a number of ideas relating to unfinished crypto projects.

Read more: Can Solana stay afloat without SBF and FTX?

SBF had big plans for his latest ‘Sam coins’

According to CoinDesk, SBF’s Alameda Research headed up a $50 million investment into crypto-based Google Maps alternative Maps in January 2021. Shortly after, it led a $40 million round into DeFi broker Oxygen. The plan was to integrate the two projects.

The MAPs and OXY tokens joined the likes of FTX exchange token (FTT), Solana (SOL), and Serum (SRM) in becoming known as ‘Samcoins’ — crypto tokens championed by SBF and Alameda Research and designed to exist on the FTX or Solana ecosystems.

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