The filing comes amid Alameda’s own bankruptcy process
Alameda Research, former crypto trading firm and part of Sam Bankman-Fried’s empire, is on a mission to retrieve $446 million worth of crypto coins transferred to the now-bankrupt lender, Voyager Digital. According to a recent lawsuit, Alameda claims to have repaid all its loans to Voyager after they filed for bankruptcy protection. But, wait a minute… did Voyager actually have valid collateral for these loans? The complaint calls out Voyager and other crypto lenders for funding Alameda and potentially fueling the alleged misconduct.
So, here’s the deal, Alameda is asking a court to rule that the transfers were “avoidable preferential transfers” and to award them at least $445.8 million, plus any fees. In other words, Alameda is saying, “Hey Voyager, we gave you some crypto coins and now we want them back. We don’t really know if you had a valid claim to them, but let’s ask the court to find out!”
Oh, and one more thing! Alameda repaid Voyager its loans in the form of various cryptocurrencies, including bitcoin, ether, and dogecoin, among others. But, according to the lawyers of Alameda, they can’t seem to figure out if Voyager actually had a valid claim to the collateral they were holding. It’s like they’re saying, “Wait a minute Voyager, did you really have a right to hold onto those crypto coins or were you just pretending? We’re not sure, let’s ask the court to decide!”
And so, Alameda is now requesting a court to rule that these transfers were “avoidable preferential transfers” and award them at least $445.8 million, along with any fees that may have been incurred. In simpler terms, Alameda is saying, “Hey court, can you help us get our crypto coins back from Voyager? We don’t know if they were actually holding onto them properly, so could you please look into it?”
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