Alameda Research Files Lawsuit Against Voyager Digital, Seeks $446 Million

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The FTX Group’s bankruptcy proceedings have been marked by surprising moments and accusations. The recent motion, filed on January 30th, is no exception, seeking to absolve FTX’s leadership of all responsibility.

Earlier this year, Voyager was forced to file for Chapter 11 bankruptcy, but declined FTX’s buyout offer. FTX accused Voyager of trying to extract more money from customers via the bankruptcy proceedings, while Voyager countered with false claims by FTX and accused them of going public with details of the proposed deal.

Now, both FTX and Voyager find themselves in similar circumstances, with Voyager requesting repayment of loans to FTX totaling $445.8 million. This amount was spread across three payments made in August, September, and October, with interest of $3.2 million, $248.8 million, and $193.9 million, respectively.

However, FTX is asking for the repayments to be returned, alleging that Voyager failed to do proper due diligence and misused customer funds. According to the filing, the collapse of Alameda and its affiliates was partly the fault of Voyager and other firms, who enabled the company to continue its alleged misconduct.

FTX Group lawyers believe that Voyager lent Alameda hundreds of millions of dollars worth of cryptocurrency in 2021 and 2022, knowingly or recklessly, which fueled the alleged misconduct. As a result, they see the repayment of their debt to Voyager as unfavorable and request the money to be returned to Alameda’s pockets.

In conclusion

The recent motion filed by FTX Group’s lawyers highlights the complex and intertwined nature of the FTX Group’s and Voyager’s bankruptcy proceedings. Both firms have accused each other of wrongdoing, and it remains to be seen how the court will decide on the repayment of debt and the allocation of responsibility.

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Jem Benny
I am a senior stock trader. I think it is really important to share the knowledge and the experience with rookies. "Must know" and education content creator. I have been following the events of the crypto industry since 2011. I joined Walletinvestor as a content creator providing technical analysis and overviews on the current market situation.