Alameda Research has filed a lawsuit against Grayscale Investments seeking injunctive relief to realize what it claims is over $250 million in asset value for the FTX Debtor’s customers and creditors. By Nelwang
FTX sister company Alameda Research has filed a lawsuit against crypto asset manager Grayscale Investments seeking injunctive relief to realize what it claims is over $250 million in asset value for the FTX Debtor’s customers and creditors, according to aThe suit was filed in the Court of Chancery in the State of Delaware and also asserted claims against Grayscale CEO Michael Sonnenshein and Grayscale’s owners, Digital Currency Group and its CEO, Barry Silbert.
The complaint asserts that if Grayscale reduced its fees and allowed redemptions, FTX Debtors shares would be worth at least $550 million, or roughly 90% more than their current value. "We will continue to use every tool we can to maximize recoveries for FTX customers and creditors,” said John J. Ray III, CEO and Chief Restructuring Officer of the FTX Debtors, in a statement. “Our goal is to unlock value that we believe is currently being suppressed by Grayscale's self-dealing and improper redemption ban.”
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