Alameda Research sues Voyager Digital for $446 million for “recklessly” lending to them Cryptocurrencies
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FTX and Alameda were still riding high in July. Voyager was a firm they had done extensive business with during crypto’s boom years, and they were actually in the process of putting together the winning bid for Voyager’s assets, so making them whole made sense. FTX paid the outstanding loans in full, transferring Voyager $248.8 million in September and $193.9 million in October, along with a $3.2 million interest payment in August.
FTX lawyers made a very interesting argument in the filing, acknowledging that Alameda misused the FTX exchange’s customer deposits for its high-risk market plays, but essentially arguing that Voyager was as much Alameda’s accomplice and co-conspirator as its victim.
The lawsuit claims that because these loan repayments were made within 90 days of the FTX and Alameda bankruptcies, they are legally allowed to “avoid and recover” the funds on behalf of FTX and Alameda’s creditors and customers, along with any other payments made during the ‘Avoidance Period’ that they might discover later.
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