Alameda Research Sues Voyager Digital for $446 Million Clawback

Alameda Research Files Lawsuit Against Voyager Digital

Alameda Research, associated with FTX, has filed a lawsuit against Voyager Digital, a now-defunct cryptocurrency lender. The legal action, initiated by FTX attorneys, aims to recover $446 million through a clawback. This claim arises from loan payments made shortly before FTX's bankruptcy filing.

Bankruptcy Context and Clawback Claims

Both Alameda Research and Voyager Digital filed for bankruptcy in 2022, with Voyager's Chapter 11 petition approved four months earlier than FTX's. Following Voyager's bankruptcy filing, the lender demanded the repayment of debts from FTX and Alameda Research. These repayments occurred just before FTX's financial collapse, prompting attorneys to seek their recovery.

Details of the Alleged Loan Repayments

The lawsuit specifies repayments made by Alameda to Voyager, totaling $248.8 million in September and $193.9 million in October. An additional payment of $3.2 million was made, highlighting significant financial transactions between the entities shortly before FTX's bankruptcy declaration.

Legal Proceedings and Implications

The case, filed in a Delaware court, focuses on the timing of these transactions, suggesting they are subject to clawback under bankruptcy law. The outcome of this lawsuit could have significant implications for both parties and the broader cryptocurrency industry. The legal proceedings highlight the complexities and interdependencies within the crypto lending sector.