Last Updated on January 31, 2023 by Bitfinsider
Alameda Research, a troubled cryptocurrency trading company, is suing failing cryptocurrency lender Voyager Digital for more than $445 million in an effort to recoup loan repayments made after Voyager sought bankruptcy protection.
The statement, which was issued on Monday afternoon in a federal bankruptcy court in Delaware, stated that the total amount Alameda’s attorneys are requesting back, $445.8 million, could increase if proof of more payments from Alameda to Voyager is discovered. Additionally, they want their legal bills reimbursed.
One of the more than 100 FTX-connected companies that sought bankruptcy protection in November, when the crypto behemoth collapsed following a run on its utility token, is Alameda Research. A few months prior, Voyager Digital had submitted a bankruptcy petition.
In court documents, Alameda attorneys attacked Voyager for its part in the demise of FTX and Alameda, branding it a “feeder fund” that performed “little to no due diligence” before investing money from retail investors. In a different instance, Caroline Ellison, the former CEO of Alameda Research, entered a guilty plea to criminal charges.
The money that Alameda Research paid to Voyager before and after the crypto lender filed for bankruptcy protection in July is being sought to be recouped by attorneys.
Lawyers for FTX and Alameda wrote the following in the filing: “Largely lost in the (justified) attention paid to the alleged misconduct of Alameda and its now-indicted former leadership has been the role played by Voyager and other cryptocurrency ‘lenders’ who funded Alameda and fueled that alleged misconduct, either knowingly or recklessly.”
After Voyager’s bankruptcy case got started, the company’s outstanding loans to Alameda Research were “repaid in full,” the filing added.
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