FTX's bankrupt trading arm, Alameda Research, is seeking to recoup about $446 million in loans from Voyager Digital, which is also bankrupt.
According to a filing filed on Monday in Delaware bankruptcy court by FTX on behalf of Alameda, Voyager made loans to Alameda before going bankrupt in July, which they repaid before Alameda went bankrupt in November. These payments are now being sought by Alameda, possibly in order to repay FTX's other creditors.
Voyager rejected an offer from FTX and Alameda last July, calling it a white knight rescue dressed up as a low-ball bid.
A $1.4 billion deal was struck between FTX and Voyager in September.
A couple of months later, FTX declared bankruptcy, and Bankman-Fried resigned as CEO. He has since been indicted for fraud involving FTX customers' money; Alameda is accused of taking FTX customers' money to cover its risky bets. Caroline Ellison, former Alameda CEO, pleaded guilty to fraud in December and cooperated with the prosecution against Bankman-Fried.
The company accused Voyager of contributing to the problems in a court filing on Monday.
Alameda's alleged misconduct and its now-indicted former leadership have received much (justified) attention, but Voyager and other cryptocurrency lenders have played a major role in funding Alameda and fueling the misconduct, either knowingly or recklessly, the filing said, alleging that Voyager operated as a feeder fund. Investment funds like Alameda and Three Arrows Capital solicited retail investors and invested their money without due diligence."
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