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Genesis Block co-founder Clement Ip has rather brazenly claimed he is owed $65.8 million held in an FTX account belonging to his partner’s company, Myth Success. However, FTX debtors say Myth Success was yet another shell company used by FTX to circumvent regulators, acquire companies without publicizing FTX’s involvement, and secretly trade on other platforms, and that it had no business operations of its own. As FTX collapsed, when its executives were desperately searching the couch cushions for money to satisfy withdrawals, Genesis Block and Myth Success acknowledged that the money in Myth Success’s accounts belonged to FTX, and transferred some of it back. However, the debtors allege that “Ip appears to have hoped that the fact of these transfers would be lost in the chaos and disarray of the FTX Group’s implosion”, and described his claim on the assets as “a baffling act of hubris”.