Debtors of the bankrupt digital asset exchange FTX have filed a lawsuit against crypto giant Grayscale in Delaware.
Alameda Research, a “debtor affiliate” and the disgraced sister company of FTX, sued Grayscale in the Delaware Court of Chancery, claiming the crypto asset manager extracted more than $1.3 billion “in exorbitant management fees in violation of the trust agreements,” according to a new press release.
Alameda also claims Grayscale has taken actions that have reduced the value of shares in its Bitcoin (BTC) and Ethereum (ETH) Trusts to 50% of the value of those respective assets, and that the firm has “hidden behind contrived excuses” in order to keep shareholders from redeeming shares.
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“The FTX Debtors are seeking injunctive relief to unlock $9 billion
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