FTX’s sister company, Alameda Research, announced that it is suing crypto asset manager Grayscale Investments for deliberately suppressing share prices.
In a press release, FTX released on March 6, Alameda Research’s in Delaware Court CEO of Grayscale Michael Sonneshein and CEO of Grayscale’s parent company Digital Currency Group (DCG) Barry Silbert He announced that he was filing a lawsuit against him. Stock Exchange, Grayscale’s policies because of 550 million dollar asset value more than half He claimed he was held hostage.
According to the information given, Alameda uses Grayscale. exorbitant management fees take and redemptions for invalid reasons by limiting share value of the fund willful aspect by suppressing blamed. About fund customers 250 million dollar value, Grayscale’s hedging against redemptions baseless policies because of that you are lost was put forward. In the event that the redemption policy is waived, FTX will be able to determine the current asset value in Grayscale. 90% increased by a minimum 550 million He underlined that it will reach the dollar.
Grayscale’s last in 2 years violating asset management agreements 1.3 billionover r dollars management fee Alameda also stated that with the redemption barrier, the funds are almost less than the value of the underlying assets. 50% lower He said it caused the price to be traded.
FTX CEO who made a statement on the subject John J Rayreimbursement rates for FTX customers and creditors to raise about all kinds of vehicles And your option stated that it will be used. In addition, the CEO reiterated the asset value that Grayscale deliberately suppressed by its current goals. take it back that the case Working in favor of FTX in case of other grayscale of customers also take advantage of this situation he said he would.
On the other hand, in the statement made by Grayscale regarding the allegations, FTX’s case misdirected and Grayscale’s GBTC fund is a exchange-traded fund (ETF) the effort to transform transparent He said he was making progress. Currently available your best win This is also claimed by Grayscale.