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.
Says FTX,
“The FTX Debtors are seeking injunctive relief to unlock $9 billion
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