alameda research: FTX-tied Alameda Research drops lawsuit against Grayscale
Bankrupt cryptocurrency exchange FTX’s affiliate Alameda Research has dropped a lawsuit against Grayscale Investments that had accused the digital asset manager of “enriching itself at shareholders’ expense”, a court filing showed on Monday.
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Alameda, which filed the lawsuit in a Delaware court in March last year, had also accused Grayscale of charging high fees and refusing to allow investors to redeem their shares from its two crypto-focused trusts, the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust.
Grayscale CEO Michael Sonnenshein was named in the lawsuit along with parent company Digital Currency Group (DCG) and its CEO, Barry Silbert.
Monday’s court filing showed that accusations against all parties in the lawsuit were dismissed.
“Alameda’s voluntary dismissal underscores Grayscale’s position that this legal action was entirely without merit,” a Grayscale spokesperson said. DCG said it had “no comment” on the matter.
GBTC began trading as an exchange-traded fund earlier in the month on NYSE Arca after the U.S. Securities and Exchange Commission approved to convert its existing Grayscale Bitcoin Trust into an ETF.
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Since it went bankrupt in Nov. 2022, FTX has been trying to recover assets to repay its creditors.
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Bankrupt cryptocurrency exchange FTX’s affiliate Alameda Research has dropped a lawsuit against Grayscale Investments that had accused the digital asset manager of “enriching itself at shareholders’ expense”, a court filing showed on Monday.
![]()
Alameda, which filed the lawsuit in a Delaware court in March last year, had also accused Grayscale of charging high fees and refusing to allow investors to redeem their shares from its two crypto-focused trusts, the Grayscale Bitcoin Trust (GBTC) and the Grayscale Ethereum Trust.
Grayscale CEO Michael Sonnenshein was named in the lawsuit along with parent company Digital Currency Group (DCG) and its CEO, Barry Silbert.
Monday’s court filing showed that accusations against all parties in the lawsuit were dismissed.
“Alameda’s voluntary dismissal underscores Grayscale’s position that this legal action was entirely without merit,” a Grayscale spokesperson said. DCG said it had “no comment” on the matter.
GBTC began trading as an exchange-traded fund earlier in the month on NYSE Arca after the U.S. Securities and Exchange Commission approved to convert its existing Grayscale Bitcoin Trust into an ETF.
Discover the stories of your interest
Since it went bankrupt in Nov. 2022, FTX has been trying to recover assets to repay its creditors.
Stay on top of technology and startup news that matters. Subscribe to our daily newsletter for the latest and must-read tech news, delivered straight to your inbox.
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