Ex-directors allege fraud at Tether-backed crypto group Northern Data [FT.com - Mergermarket]
NVIDIA Corporation (NVDA)
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Source: FT.com - Mergermarket
Bryce ElderJump to comments sectionStay informed with free updatesSimply sign up to the myFT Digest -- delivered directly to your inbox.Two former executives of Northern Data, a German-listed crypto and AI infrastructure company backed by , say they were sacked after raising concerns about alleged fraud they claim was being perpetrated by its chief executive and chief operating officer.Ina complaintAt pixel time, Northern Data has not responded to ’s questions about the lawsuit.Northern Data has been making headlines for other reasons this week, withBloomberg News reporting on MondayBanks asked to pitch for a role have suggested valuations from about $10 billion to $16 billion. That compares with [Northern Data’s] market capitalization of €1.3 billion ($1.4 billion) as of Monday’s close.Potential advisers are basing the valuation range in part on Northern Data’s tie-up with Group, people familiar with the matter have said. The backing has facilitated the purcha
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