FTX Seeks To Recoup $446 Million From Voyager Digital

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 repayment 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

Divya is a crypto enthusiast. Loves to read and learn about crypto.

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