{"id":75141,"date":"2023-03-07T11:10:01","date_gmt":"2023-03-07T09:10:01","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75141"},"modified":"2025-09-10T09:59:53","modified_gmt":"2025-09-10T06:59:53","slug":"ftx-files-suit-against-grayscale-investments","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ftx-files-suit-against-grayscale-investments\/","title":{"rendered":"FTX files suit against Grayscale Investments"},"content":{"rendered":"

The plaintiff collapsed<\/a> FTX exchange, filed<\/a> a lawsuit against Grayscale Investments, accusing the firm of mismanaging funds and breaching the trust agreement.<\/p>\n

The defendants also include the company’s CEO Michael Sonnenshein and the founder of the parent entity \u2014 Digital Currency Group \u2014 Barry Silbert.<\/p>\n

The complaint, on behalf of the subsidiary Alameda Research, alleges that over the past two years Grayscale improperly collected more than $1.3 billion in ‘excessive management fees’.<\/p>\n

The plaintiff contends that the ‘fabricated justifications’ for prohibiting redemption of the trusts’ shares led to a 50% discount relative to NAV<\/span>.<\/p>\n

The plaintiffs sought a court injunction against Grayscale to unlock $9 billion of value in the Bitcoin and Ethereum trust shares.<\/p>\n

\n

\u00abIf Grayscale lowers its fees and stops improperly blocking redemptions, the creditors’ shares of FTX will be worth no less than $550 million, which is about 90% more than their current value\u00bb, the statement said.<\/p>\n<\/blockquote>\n

FTX’s current CEO John J. Ray III noted that the team would ‘use any available tools’ to maximise recovery for the exchange’s customers.<\/p>\n

\n

\u00abThe suit filed by hedge fund Alameda Research’s Sam Bankman-Fried is misleading. Grayscale is transparent in its efforts to approval<\/a> for the transformation<\/a> of GBTC into ETF<\/span> \u2014 a result that, undoubtedly, represents the best long-term prospect for the product\u00bb, said a representative of the defendant, The Block<\/a>.<\/p>\n<\/blockquote>\n

According to Grayscale’s site, the value of assets in the company’s flagship GBTC trust exceeds $14 billion.<\/p>\n

\"FTX
Data: Grayscale<\/a>.<\/figcaption><\/figure>\n

In January, Sonnenshein criticised<\/span> the SEC’s approach to regulating the cryptocurrency industry.<\/p>\n","protected":false},"excerpt":{"rendered":"

The plaintiff, the collapsed FTX exchange, filed a lawsuit against Grayscale Investments, accusing the firm of mismanaging funds and breaching the trust agreement.<\/p>\n","protected":false},"author":1,"featured_media":75142,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1162,1236,943],"class_list":["post-75141","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-court-cases","tag-ftx","tag-grayscale-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75141","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=75141"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75141\/revisions"}],"predecessor-version":[{"id":75143,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75141\/revisions\/75143"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75142"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75141"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75141"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75141"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}