FTX affiliate Alameda Research files a lawsuit against asset manager Grayscale Investments LLC for imposing a “redemption ban.”
FTX affiliate Alameda Research filed a lawsuit against asset manager Grayscale Investments LLC for imposing a “redemption ban,” bankrupt crypto platform FTX Trading Ltd. and its affiliated debtors said Monday in a news release.
In... FTX affiliate Alameda Research filed a lawsuit against asset manager Grayscale Investments LLC for imposing a “redemption ban,” bankrupt crypto platform FTX Trading Ltd. and its affiliated debtors said Monday in a news release. In the news release, the FTX Debtors said that that in the past two years, Grayscale has extracted over $1.3 billion in “exorbitant” management fees in violation of the Trust agreement and “hidden behind excuses” to prevent shareholders from redeeming their shares. The FTX Debtors argued if Grayscale reduced its fees and stopped preventing redemptions, then the Debtors’ shares would be worth at least $550 million, which is 90% more than the current value.
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