FTX Recovery Trust Sues Genesis Digital Assets for $1.15B Clawback

KuCoin News

Release Time:09/23/2025 19:30:27

BTC

$112,102.00-0.54%

In accordance with Bitcoin.com, the FTX Recovery Trust filed a Delaware adversary complaint on Sept. 22, 2025, seeking to recover $1.15 billion from Genesis Digital Assets and its co-founders. The suit alleges that Alameda Research, funded by FTX customer deposits, made fraudulent transfers to GDA between August 2021 and April 2022 at inflated prices. The complaint highlights five major transfers totaling $1.15 billion and claims the transactions lacked equivalent value as GDA failed to meet financial projections and delayed audits. The FTX estate argues the transfers bore 'badges of fraud,' including concealment of funding sources and insider benefits to Sam Bankman-Fried. GDA has not yet responded to the lawsuit.

Source:Show original

Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.

GemSlot

Complete Tasks to Earn Free Tokens Every Day

Limited-time offer for newcomers!

Newcomer Bonus: Up to USDT in Rewards!

Already have an account?

Featured

Recommended

SEC's ETP Rules Reshape Institutional Crypto Investment Landscape

As per Bijié Wǎng, the U.S. Securities and Exchange Commission (SEC) has introduced revised regulatory rules for cryptocurrency exchange-traded products (ETPs), significantly altering the institutional investment landscape. Commissioner Hester Peirce led the initiative, advocating for a streamlined ...

ETH$4,180.38-0.21%

Recommended

SEC Chair Paul Atkins Pushes Innovation Exemption to Speed Crypto Product Approvals by Year-End

As per Coinotag, SEC Chair Paul Atkins is pushing for an innovation exemption by year-end to allow crypto firms to launch new digital-asset products under lighter regulatory oversight. The exemption is intended to serve as a temporary measure while the SEC develops tailored rules, aiming to reduce d...

BTC$112,064.50-0.56%

TRX May Be Poised for Next Rally as Retail Activity Remains Low

As per Criptonoticias, TRX is currently trading at $0.33, 23% below its all-time high of $0.44 reached in December 2024. Analyst Burak Kesmeci from CryptoQuant notes that low retail activity in TRX futures suggests the market is in a healthier state, potentially setting the stage for a new rally. Th...

TRX$0.3363-1.03%

XRP Stabilizes Above $2.70 Support, Eyes $3.16 Breakout

As per Coinotag, XRP price stabilized above $2.70 after dipping to the level, with the mid-Bollinger Bands acting as support. A breakout above $3.16 could trigger a rebound toward $3.54. The $1.6 billion in liquidations did not reverse the broader bullish structure. Traders are advised to monitor vo...

XRP$2.84905+0.34%

Tether Aims for $500B Valuation with $20B Private Placement

In accordance with Blockworks, Tether Holdings is seeking to raise up to $20 billion in a private funding round, which would value the company at approximately $500 billion. The El Salvador-based firm is negotiating to sell a 3% equity stake, aiming to join the ranks of the world’s most valuable pri...

USDT