Posted 1/22/2024, 5:47:00 PM
Alameda Drops Lawsuit Against Grayscale After Bitcoin Trust Conversion, FTX Bankruptcy Claims Top $16 Billion
- FTX affiliate Alameda Research dropped its lawsuit against Grayscale Investments after Grayscale's Bitcoin Trust converted to an ETF
- The original lawsuit alleged over $9B in investor funds were trapped in Grayscale's fund due to FTX collapse
- Filing didn't explain why Alameda dropped the suit against Grayscale, its CEO, and parent company Digital Currency Group
- FTX faces over 36K customer claims worth $16B, owes top 50 creditors $3.1B per 2022 filing
- Grayscale said dismissal "underscores" their view that the legal action had no merit