Skip to content

FTX’s Alameda Sues Grayscale Over Fees, Redemptions From Crypto Trusts

  • FTX CEO will ‘use every tool we can to maximize recoveries’
  • Lawsuit also named Grayscale CEO Michael Sonnenshein


Photographer: Eva Marie Uzcategui/Bloomberg
Updated on

Alameda Research, the trading arm of the bankrupt digital-asset exchange FTX, filed a lawsuit against Grayscale Investments alleging “exorbitant management fees” and accusing Grayscale of “improperly preventing redemptions” from the Bitcoin and Ether trusts it manages. 

“We will continue to use every tool we can to maximize recoveries for FTX customers and creditors,” John J. Ray III, chief executive officer and chief restructuring officer for FTX, said in the statement. “Our goal is to unlock value that we believe is currently being suppressed by Grayscale’s self-dealing and improper redemption ban.”