FTX affiliate Alameda Research is claiming $446 million back from Voyager

Alameda Research, the most significant sibling company of the defunct FTX cryptocurrency exchange, is currently demanding that Voyager Digital, another defunct cryptocurrency lender, return previous loan repayments. Voyager Digital is also insolvent.

On January 22, similar accusations were made against Voyager by the bankruptcy lawyers for FTX and Alameda. 30 for a $445,082,000 recovery.

Voyager declared bankruptcy four months prior to the other companies, i.e., before they all did. e. around July 2022. Then, Voyager demanded that FTX and Alameda immediately repay all outstanding loans.

However, since the disputed loan repayments were made just before Alameda's own bankruptcy in November, in the opinion of the FTX attorneys who are its representative, they can now be undone.

Voyager transferred $248.8 million in September and $193.9 million in October, according to FTX. In August, the cryptocurrency exchange also paid interest on loans totaling $3,02,000,000.

Unexpectedly, FTX acknowledges in the lawsuit that Alameda misappropriated client money for risky investments, but warns that Voyager and other cryptocurrency lenders were also complicit in lending money to Alameda "knowingly or at least negligently.". without performing their duty of care. Therefore, it states:.

"Voyager's business strategy was a form of feeder system that attracted retail investors and loaned their money to cryptocurrency investment companies like Alameda and Three Arrows Capital without performing any kind of due diligence. ".

For the purpose of paying off their own debts, the insolvent FTX and its sister business Alameda now want to recoup the lost money.

Ironically, FTX had made a sizable offer to buy Voyager before its own collapse in November.

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