Home » Law » FTX Believe sues Genesis Digital for $1.15 billion
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Sep. 23, 2025
FTX Believe launches main lawsuit in opposition to Genesis Digital Assets to increase over $1 billion allegedly transferred sooner than FTX’s chapter.
Listing: The Verge
Key Takeaways
- FTX Believe has filed a $1.15 billion lawsuit in opposition to Genesis Digital Assets as segment of its chapter asset recovery efforts.
- The lawsuit is one in every of the biggest clawback actions since FTX collapsed in 2022, concentrating on funds allegedly transferred fraudulently sooner than chapter.
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FTX Believe, the honest entity overseeing asset recovery for creditors within the chapter of the FTX cryptocurrency substitute, filed a $1.15 billion lawsuit in opposition to Genesis Digital Assets nowadays. The swimsuit targets the main Bitcoin mining firm over alleged false transfers.
The lawsuit represents one in every of the biggest clawback efforts within the FTX chapter proceedings. Below U.S. chapter regulations, the trust can pursue “avoidance actions” to increase funds transferred fraudulently sooner than chapter.
Genesis Digital obtained over $1 billion in investments from Alameda Research in 2021-2022, making it one in every of the biggest resources within the FTX chapter case. Alameda Research used to be a quantitative trading firm carefully tied to FTX.
The FTX give plan in late 2022 ended in over $8 billion in lacking buyer funds, triggering a host of complaints and recovery efforts. The artificial filed for chapter amid fraud allegations in opposition to its leadership.
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