FTX sister firm Alameda Analysis sues Voyager Digital for $446M

Embattled crypto funding agency Alameda Analysis is suing bankrupt crypto lender Voyager Digital in an effort to claw again mortgage repayments FTX made earlier than it collapsed in November.

Legal professionals managing the FTX and Alameda chapter case sued Voyager for $445.eight million in a Delaware court docket on Jan. 30.

Whereas each corporations filed for chapter in 2022, Voyager’s chapter 11 submitting got here 4 months earlier in July. Following Voyager’s Chapter 11, the crypto lender demanded compensation of all excellent loans to FTX and its affiliate funding agency Alameda Analysis.

In response to FTX legal professionals submitting on behalf of Alameda, these mortgage repayments are eligible to be clawed again as they have been made so near their very own chapter in November.

FTX claims it paid Voyager $248.eight million in September and $193.9 million in October. The change additionally made a $3.2 million curiosity cost in August, based on the court docket filings.

FTX acknowledged allegations that Alameda used FTX buyer deposits for its dangerous investments however added that Voyager and different crypto lending corporations have been additionally complicit, “knowingly or recklessly” funneling buyer funds towards Alameda with “little or no due diligence.” It acknowledged:

“Voyager’s enterprise mannequin was that of a feeder fund. It solicited retail traders and invested their cash with little or no due diligence in cryptocurrency funding funds like Alameda and Three Arrows Capital.”

The embattled crypto change hopes to repurpose any reclaimed funds to repay a few of its collectors.

FTX had deliberate to purchase Voyager out of chapter earlier than its collapse in November.

Associated:Which tokens might FTX dump in the marketplace?

In a separate improvement, FTX has requested the court docket to exclude two of its Turkish subsidiaries from the chapter proceedings.

In a movement filed on Jan. 27, the corporate has requested for the exclusion of FTX Turkey and SNG Investments because it believes U.S. courts don’t have any jurisdiction within the nation and clients had already begun personal claims towards the corporate.

“The orders entered by this Courtroom wouldn’t have authorized or sensible impact in Türkiye and the Debtors don’t have any purpose to consider that the Turkish authorities will adjust to this Courtroom’s orders,” the submitting acknowledged.


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