{"id":83270,"date":"2023-08-18T13:25:00","date_gmt":"2023-08-18T10:25:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83270"},"modified":"2025-09-12T10:09:32","modified_gmt":"2025-09-12T07:09:32","slug":"ftx-and-genesis-settle-175-million-payment-to-alameda-research","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ftx-and-genesis-settle-175-million-payment-to-alameda-research\/","title":{"rendered":"FTX and Genesis settle $175 million payment to Alameda Research"},"content":{"rendered":"<p>FTX and Genesis have reached an agreement to pay Alameda Research the remaining $175 million. This will set the stage for the confirmation of the crypto-lending platform&#8217;s restructuring plan, <a href=\"https:\/\/www.theblock.co\/post\/246007\/ftx-and-genesis-reach-agreement-for-175-million-payment-to-alameda\"> The Block<\/a>.<\/p>\n<p>The agreements will eliminate the risks, costs and uncertainties associated with the protracted litigation between the FTX and Genesis debtors.<\/p>\n<p>They also entail the platform waiving all other claims against the exchange, according to the statement.<\/p>\n<p>In May 2023, FTX lawyers filed suit against Genesis seeking that it return <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-seeks-4-billion-from-bankrupt-genesis\">$3.9 billion<\/a>. The claim amount was later reduced to $2 billion.<\/p>\n<p>According to court filings, the lending platform is among the exchange&#8217;s largest unsecured creditors and their affiliates, with a debt of $226 million.<\/p>\n<p>In June, the debtors, FTX, challenged the latest valuation, arguing that nothing was owed to the firm. According to <a href=\"https:\/\/cointelegraph.com\/news\/ftx-genesis-reach-in-principle-agreement-to-settle-bankruptcy-case\"> Cointelegraph<\/a>, such claims and objections apparently were resolved within the framework of a global settlement.<\/p>\n<p>A month later it emerged that FTX and Genesis<a href=\"https:\/\/u1f987.com\/en\/news\/ftx-and-genesis-reach-in-principle-agreement-to-settle-bankruptcy-claims\"> in-principle agreement<\/a> to settle the claims had been reached.<\/p>\n<p>In June, the exchange&#8217;s current management team said it had returned liquid assets<a href=\"https:\/\/u1f987.com\/en\/news\/new-ftx-leadership-has-returned-7-billion-in-liquid-assets\"> totaling about $7 billion<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>FTX and Genesis have reached an agreement to pay Alameda Research the remaining $175 million. The Block reports that this will pave the way for confirming the crypto-lending platform&#8217;s restructuring plan.<\/p>\n","protected":false},"author":1,"featured_media":83271,"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":[1435,1162,1236,1380],"class_list":["post-83270","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-alameda-research","tag-court-cases","tag-ftx","tag-genesis-global-capital"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83270","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=83270"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83270\/revisions"}],"predecessor-version":[{"id":83272,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83270\/revisions\/83272"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/83271"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=83270"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=83270"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=83270"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}