Voyager Digital is being sued by Alameda Research for $446 million
Alameda Research is suing insolvent cryptocurrency lender Voyager Digital to recover loan repayments made by FTX prior to its collapse in November.
On January 30, attorneys overseeing the FTX and Alameda bankruptcy case filed a $445.8 million lawsuit against Voyager in a Delaware court. Although both businesses declared bankruptcy in 2022, Voyager’s chapter 11 filing was made in July, four months earlier. The cryptocurrency lender requested repayment of all past-due debts from Voyager following the latter’s Chapter 11 filing to FTX and its affiliated investment company Alameda Research.
These loan repayments may be recouped, according to FTX attorneys who filed a lawsuit on behalf of Alameda, because they were paid so close to the company’s own bankruptcy in November. According to FTX, it paid Voyager $193.9 million in October and $248.8 million in September. In addition, the exchange paid interest in the amount of $3.2 million in August, per the court documents.
Alameda is said to have used deposits from FTX customers for its dangerous investments, but FTX also claimed that Voyager and other crypto lending companies were complicit, “knowingly or carelessly” sending client money to Alameda with “little or no due diligence.” Alameda expects to use any money that is recovered to pay off some of its creditors.
Separately, FTX has requested that two of its Turkish businesses be kept out of the bankruptcy proceedings. The corporation has requested the exclusion of FTX Turkey and SNG Investments in a move submitted on January 27 because it believes that U.S. courts lack jurisdiction in the nation and because customers have already started filing private lawsuits against it.
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