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FTX Sues Grayscale as It Seeks $250 Million in Its Trust

Bankrupt digital currency trading firm FTX Derivatives Exchange, through its sister trading firm, Alameda Research, has filed a lawsuit against Grayscale Investment. The case was filed in the Court of Chancery in the State of Delaware, and it names its CEO, Michael Sonnenshein, and the parent company, Digital Currency Group, as defendants.

According to the suit, FTX wants injunctive relief to unlock $9 billion or more in value for shareholders of the Grayscale Bitcoin and Ethereum trusts. Should this request be granted, it will unlock the sum of $250 million for FTX, which the firm can add to its pot of funds to repay its own creditors.

(By Godfrey Benjamin)

FTX Token FTX Token $1.56
-2.85%
FTX Grayscale GBTC Alameda Research
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