Alameda Research claims $446m from Voyager Digital

The company said the amounts transferred were “avoidable” and not part of its responsibilities.

Alameda Research, one of the companies linked to Sam Bankman-Fried’s FTX empire, is looking to recover an estimated $446m it previously transferred to bankrupt lender Voyager Digital.

Alameda Research is largely linked to FTX’s collapse, after it transpired that Bankman-Fried had been redirecting customer funds – some $8bn – to the crypto trading firm in a bid to propel its investment portfolio.

The recent downturn in the cryptocurrency market has cost both FTX and Alameda as the companies ran into trouble due to imprudent spending and a rapid decline in their crypto assets.

According to a legal filing on Monday, Alameda Research is hoping to recoup some of the money it had invested prior to its own bankruptcy filing.

Alameda and Voyager are said to have maintained 10 different loan sheets at the time the former filed for bankruptcy.

Originally, it was Voyager who issued loans to Alameda Research, but those were repaid in full, the company confirmed in several filings last year.

The repayment was carried out in Bitcoin, Dogecoin, Ether, USDC, Litecoin, and other popular cryptocurrency tokens.

However, Alameda insists that a court should now rule that all transfers regarding “purported collateral” are not part of Alameda’s obligations towards Voyager.

In a filing, Alameda’s legal team claims that it’s a matter of “avoidable preferential transfers”.

The recovery of funds that may have otherwise been spent too quickly could be a good sign of the general direction Alameda is heading. However, restoring consumer trust is a long and difficult road.

FTX’s collapse still smarts despite many company employees genuinely angered at the way Bankman-Fried ran the company.

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Written by Alex


Alex is a well-rounded crypto writer who focuses on general market and legal developments. His main interest lies in how crypto gaming can become a more permanent part of the gaming landscape and how blockchain holds benefits to players they are not even aware of.

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