Kraken's parent company, Payward, has filed a lawsuit against custodian Etana Custody and its CEO, accusing them of misappropriating over $25 million in client funds and operating a 'Ponzi-like' structure through fund commingling and using new funds to cover deficits. Etana had previously entered bankruptcy restructuring proceedings. The lawsuit alleges that Etana invested at least $16 million into defaulted notes and continued to present asset security to clients despite insufficient funds. Kraken is seeking at least $25 million in damages. (CoinDesk) https://(wublock123.com)/news/payward-sues-etana-custody-ceo-over-25m-client-funds-60509