Alameda Researchsued Grayscale for a value close to $250 million.
Alameda research last year FTX was among the companies that went bankrupt. After the bankruptcy, the Alameda Research front made a new move.
Alameda Research Uploads to Grayscale Over Transaction Fees
Bankrupt Alameda Research is seeking injunctive relief to let FTX borrowers realize what it claims is worth more than $250 million in assets.
FTXsister company Alameda ResearchFTX has filed a lawsuit against crypto asset manager Grayscale Investments, alleging over $250 million in asset value for its clients and creditors.
The lawsuit was filed in Chancery Court in Delaware County, and Grayscale CEO Michael Sonnenshein and Grayscale’s owners also Digital Currency Group( DCG) and its CEO, Barry Silbert.
According to Alameda’s complaint, Grayscale charged exorbitant management fees for the management of the Bitcoin and Ethereum Trusts, allowing the shares of these Trusts to trade approximately 50 percent less than their net asset value.
If the complaint is that Grayscale lowers its fees and allows redemptions, FTXDebtors claims its shares will be worth at least $550 million, or roughly 90 percent more than its current value.
John J. Ray III, FTX CEO and President of Restructuring, said in a statement:
“We will continue to use every tool we can to maximize refunds for FTX customers and creditors.”
