Alameda Research sues Voyager Digital for $446M

Alameda Research sues Voyager Digital for $446M

31.01.2023 09:24 (Updated 31.01.2023 09:01)
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by Sviatoslav Pinchuk
2 min read

The defunct investment arm of Sam Bankman-Fried’s former FTX empire is trying to recover $446 million in loan repayments FTX made to Voyager in November.

Alameda filed a lawsuit against Voyager on Jan. 30. Although both companies had filed for Chapter 11 bankruptcy in 2022, Voyager filed in July, four months before FTX’s collapse. Under Chapter 11, Voyager demanded repayment of all outstanding loans to FTX and Alameda.

According to a new filing, some of the loans repaid to Voyager should be returned to Alameda because they were made so close to the time the company filed for bankruptcy in November. Some of the repayments, $445.8 million, were remitted after the bankruptcy case was opened and may be considered a priority to Alameda’s creditors.

The filing also goes:

The collapse of Alameda and its affiliates amid allegations that Alameda was secretly borrowing billions of FTX-exchange assets is widely known. 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 โ€œlendersโ€ who funded Alameda and fueled that alleged misconduct, either knowingly or recklessly.

Voyager had 10 loans with Alameda at the time it filed for bankruptcy. They claimed that the loans were backed by FTT and SRM tokens as well as various cryptocurrencies including bitcoin, dogecoin, ether, USDC, litecoin and more. Alameda paid back the loans with those same cryptocurrencies.

However, Alameda’s attorneys stated that they were unable to determine whether Voyager ever had a valid hold on the collateral or if it was even connected to Alameda’s debt.

Back in October, FTX planned to buy out Voyager Digital.

Related: FTX US Purchases Voyager Digitalโ€™s Assets for $1.4 Billion

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  • Man who simply bought some BTC for domestic needs in 2014 and then forgot about it till 2017. The dude who got Ethereum in 2017 by misclick and sold it in 2018 "just to try". Lost 1 Florida house in XEM in 2018, Sviatoslav finally decided to trade reasonably and now he is one of the most analytical and data-driven trader in Crypto Industry. Has Bachelor Degree of Chinese Interpreter and deep practical experience in competitive niches SEO.

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