Alameda Research Hurls $445 Million Lawsuit At Voyager Digital
![Naga](https://en.ethereumworldnews.com/wp-content/uploads/2022/12/cropped-IMG-6187-1-50x50.jpg"></p><p>Summary:</p><ul><li>The trading company founded by Sam Bankman-Fried hopes to recover repaid loans from bankrupt Voyager Digital.</li><li>FTX lawyers filed the lawsuit on behalf of Alameda to recover around $445.6 million for creditors of the sunken crypto exchange.</li><li>The court document accused Voyager of gross misconduct and lending customer funds to entities like Three Arrows Capital with no due diligence.</li></ul><div class=)
FTX sister firm Alameda Research launched a lawsuit against bankrupt crypto broker Voyager Digital for over $445.8 million in repaid loans. The filing was submitted by FTX attorneys on behalf of the trading giant which was also founded by former FTX CEO Sam Bankman-Fried.
FTX Lawyers Eye Recovery From Alameda’s Business
The court filings said that Alameda repaid all loans to Voyager Digital as requested by the crypto broker. Voyager declared bankruptcy in July 2022 and set out to reclaim outstanding loans from entities like Three Arrows Capital and SBF’s trading giant.
Per Monday’s filing at a bankruptcy court in the District of Delaware, FTX’s sister firm repaid Voyager roughly $249 million in September and $194 million in October last year. The repayments were finalized before FTX filed for chapter 11 protection in November, the court documents said.
The filing adds that Voyager Digital operated a “feeder fund” business model, leveraged by Alameda and other crypto entities to access millions of dollars of retail investments. FTX lawyers said that the loans repaid to Voyager are recoverable and should be allocated toward creditors.
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.
Binance Closes In On Voyager Assets After FTX Crash
Notably, FTX.US which is connected to Alameda and Bankman-Fried’s sunken crypto empire had plans to buy Voyager’s businesses for a massive $1.46 million. The deal collapsed after FTX crashed in November and filed for bankruptcy.
U.S. prosecutors allege that FTX stole billions of customer funds to prop up Alameda and cover huge debts incurred by the trading firm.
Binance, a direct competitor to FTX, swooped it shortly after to bid for Voyager’s business. The leading crypto exchange agreed to a $1 billion deal for the crypto broker’s assets.
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