Zero Edge founder Richard Kim accused of misappropriating $3.67M

Galaxy, a crypto firm headed by former Goldman Sachs and Fortress Investment Group executive Mike Novogratz, has reported former general partner Richard Kim to authorities for allegedly misappropriating at least $3.67 million from Zero Edge, his crypto casino platform, according to CoinDesk. Kim admitted his losses began after falling for a phishing scam and escalated through risky leveraged crypto trades. As Bitcoin prices tumbled, he lost most of the company's funds. Kim, who has a background with Goldman Sachs and JPMorgan, stepped down and reported himself to the U.S. SEC. Despite the accusations, he remains determined to repay investors and continue his vision for Zero Edge.