As per the reports, on Monday, bankrupt cryptocurrency exchange FTX filed a lawsuit against crypto lender Voyager Digital in an effort to recover $445.8 million in loan repayments that were made by FTX before filing for bankruptcy.
Both FTX and Voyager have filed for bankruptcy, with Voyager filing in July and FTX in November.
Court Filing Details
As per the court filing, FTX claimed that it had paid Voyager $248.8 million in September and $193.9 million in October on Alameda’s behalf. In addition, FTX paid $3.2 million in interest in August.
According to FTX’s complaint, these loan payments were made shortly before its own bankruptcy filing, so they could be collected and used to pay off other FTX creditors.
The court filing detailed, FTX admitted the claims that Alameda raided FTX customers’ assets to cover high-risk borrowings. However, Voyager and other cryptocurrency lenders were complicit in Alameda’s actions, saying they “knowingly or recklessly” forced their customers’ assets onto Alameda.
FTX and Voyager Saga
Earlier, FTX won an auction for its assets of Voyager Digital in a bid that is valued at about $1.42 billion but the proposed acquisition fell through when FTX itself imploded in November.
SBF Seeks FTX’s Crypto
As previously reported by Coingape, SBF attorneys have argued that SBF should have access to the assets and cryptocurrencies owned by his former company FTX.
On November 11, FTX and its affiliates filed for bankruptcy after SBF resigned from its CEO position. FTX mentioned in its bankruptcy filing that the exchange faced a severe liquidity crisis that necessitated the filing of these cases on an emergency basis.
Also Read: FTX Owes Money To These Industry Giants
The post FTX Seeks To Recoup $446 Million From Voyager Digital appeared first on CoinGape.
English
Arabic
Bulgarian
Chinese (Simplified)
Dutch
French
German
Italian
Portuguese
Russian
Spanish
Discussion about this post