Michael Kives, the former aide to Hillary Clinton who has since become a prominent Hollywood agent, appeared unfazed by the $700 million lawsuit against his firm, even as he spent time with former President Bill Clinton in London. Exclusive photos obtained by The Post show Kives and Clinton enjoying a leisurely stroll through the streets of the capital. The casual duo, dressed in jeans and light jackets, attracted a small entourage as they walked, just a day before Clinton’s trip to Albania, where he would receive a medal for his role in ending the Kosovo War.
During their walk, the 76-year-old former president was overheard discussing the Iraq War with Kives, who had served as an aide to both Bill and Hillary Clinton, and later transitioned into the entertainment industry as an agent representing high-profile clients such as Arnold Schwarzenegger, Bruce Willis, and Katy Perry. The Post reached out to Kives and Bill Clinton for their comments on the matter.
Kives, a major Democratic donor, is the co-founder of investment firm K5 Global, which is currently facing a lawsuit from bankrupt crypto exchange FTX. The lawsuit alleges that Kives’s firm received $700 million in misappropriated assets from FTX and its founder, Sam Bankman-Fried, in 2022, just months before FTX collapsed. Bankman-Fried had referred to Kives as an incredibly well-connected individual, a “one-stop shop” for influential connections in the realms of politics and Hollywood.
The complaint further claims that Bankman-Fried used FTX customer funds to approve investments that would benefit K5 Global, Kives, and his co-founder Bryan Baum, rather than the platform and its customers. One specific incident cited in the lawsuit involves a shell company controlled by Bankman-Fried allegedly using $214 million in FTX funds to acquire a minority stake in Kendall Jenner’s liquor brand, 818 Tequila, when the brand’s actual worth was only $2.94 million.
As FTX faced imminent collapse, Bankman-Fried reportedly turned to K5 Global and its leadership for rescue financing, but their efforts were unsuccessful. Ultimately, FTX and its affiliates, including Bankman-Fried’s cryptocurrency hedge fund Alameda Research, had to declare bankruptcy. The spokesperson for K5 Global dismissed the lawsuit as baseless, stating that they believed their association with Bankman-Fried was legitimate and mutually beneficial.
It was previously reported by The Post that Kives stood to lose hundreds of millions of dollars due to K5 Global’s dealings with Alameda Research before its collapse. Bankman-Fried is currently facing federal charges for defrauding FTX customers and is set to go on trial later this year. He has pleaded not guilty. Michael Kives, alongside his role as a former aide to the Clintons, is also a co-founder of K5 Global.
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