The Drama Continues: FTX And Alameda Demand Loan Repayment From Voyager
According to a lawsuit filed by the FTX lawyers on Monday in the US Bankruptcy Court for the District of Delaware, the bankrupt crypto trading firms want to recover $445.8 million debt that was paid to Voyager Digital before the maturity date. However, Voyager’s creditors claim that Alameda’s “inequitable and fraudulent conduct” cost Voyager and the creditors between $114 million to $122 million.
The inter-web of connections between bankrupt crypto companies has further complicated the situation and called for further liquidation. Furthermore, Voyager Digital has claimed Three Arrow Capital has not repaid its loan of over $660 million.
Notably, Binance.Us won the bid to acquire Voyager assets late last year worth approximately $1.022 billion. As such, FTX and Alameda could be looking to CZ once again for a bailout, which has been rejected unanimously by the creditors.
According to the lawsuit filings, Alameda wants Voyager to repay the debt paid before filing for bankruptcy in November. The FTX lawyers argued that the loan money paid to Voyager had not matured as agreed.
The Aftermath Of Crypto Crashes
The shock waves from the FTX and Alameda’s collapse are still evident in the crypto market today. With over $8 billion missing from the FTX balance sheet, according to CEO John Ray III in previous hearings, more pain is expected in the crypto market in the near future. Moreover, the recent crypto relief rally has seen most short-term holders and miners offload their digital assets bag.
Crypto regulations are expected to get tougher worldwide following the collapse of major firms in 2022. Nonetheless, global regulators are torn between harsh policies and softer ones due to competition among nations to attract international crypto investors.