FTX Seeks to Claw Back $3.9 Billion in Cash, Crypto from Genesis
- Funds relate to loans, collateral and withdrawn assets
- Alameda allegely repaid Genesis $1.8 billion before bankruptcy
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FTX Group is seeking to claw back close to $3.9 billion of cash and crypto from bankrupt digital asset lender Genesis Global Capital LLC and a non-bankrupt affiliate, GGC International Ltd.
The funds relate to $1.8 billion of loans and $273 million of collateral given to Genesis Global Capital by Alameda Research Ltd., Sam Bankman-Fried’s defunct crypto trading house, shortly before it collapsed into bankruptcy alongside FTX, according to court papers filed Wednesday.