{"id":25759,"date":"2024-01-22T18:32:48","date_gmt":"2024-01-22T18:32:48","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/ftxs-alameda-research-drops-lawsuit-against-grayscale\/"},"modified":"2024-01-22T18:32:48","modified_gmt":"2024-01-22T18:32:48","slug":"ftxs-alameda-research-drops-lawsuit-against-grayscale","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/ftxs-alameda-research-drops-lawsuit-against-grayscale\/","title":{"rendered":"FTX&#8217;s Alameda Research drops lawsuit against Grayscale"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687191593574-8cbc1683-b36c-4fd7-b4a0-c7b44cd3072b-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687191593574-8cbc1683-b36c-4fd7-b4a0-c7b44cd3072b-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687191593574-8cbc1683-b36c-4fd7-b4a0-c7b44cd3072b-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/06\/1687191593574-8cbc1683-b36c-4fd7-b4a0-c7b44cd3072b-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li dir=\"ltr\">Alameda Research, an affiliate of bankrupt crypto exchange FTX has dropped its case against Grayscale.<\/li>\n<li dir=\"ltr\">The lawsuit\u2019s dismissal comes as Grayscale\u2019s GBTC sees huge outflows following SEC\u2019s spot Bitcoin ETF approval.<\/li>\n<\/ul>\n<p dir=\"ltr\">Alameda Research, the collapsed crypto trading arm of bankrupt cryptocurrency exchange <a href=\"https:\/\/coinjournal.net\/news\/tag\/ftx\/\">FTX<\/a>, has dropped its lawsuit against Grayscale Investments. Reuters highlighted Alameda Research\u2019s move to drop the case in a <a href=\"https:\/\/www.reuters.com\/legal\/ftx-tied-alameda-research-drops-lawsuit-against-grayscale-2024-01-22\/\" rel=\"noopener noreferrer\" target=\"_blank\">report<\/a> on Monday.<\/p>\n<h2 dir=\"ltr\">Alameda Research drops Grayscale lawsuit<\/h2>\n<p dir=\"ltr\">The FTX affiliate filed its lawsuit against <a href=\"https:\/\/coinjournal.net\/news\/tag\/grayscale\/\">Grayscale<\/a> in March 2023 and alleged that the GBTC issuer had enriched itself at the expense of its shareholders.<\/p>\n<p dir=\"ltr\">Alameda Research\u2019s lawsuit came before Grayscale\u2019s eventual victory over the US Securities and Exchange Commission (SEC), with the legal milestone setting in motion the events that led to SEC\u2019s approval of several spot Bitcoin ETFs, including Grayscale\u2019s Bitcoin Trust (GBTC).<\/p>\n<p dir=\"ltr\">With the approval and conversion of GBTC into a spot ETF, Grayscale investors have been able to redeem their shares. In its lawsuit, Alameda claimed that the digital asset manager, which also seeks to <a href=\"https:\/\/coinjournal.net\/news\/tag\/grayscale-ethereum-trust\/\">convert its Ethereum Trust (ETHE) into a spot Ethereum ETF<\/a>, charged high fees and wasn\u2019t allowing redemptions.<\/p>\n<p dir=\"ltr\">The approval of GBTC as a spot Bitcoin ETF has addressed the redemptions issue, with Grayscale seeing a massive outflow since GBTC began trading on January 11, 2024. On Monday, the company reportedly sent 15,308 BTC worth over $623 million to Coinbase Prime.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Grayscale deposited 15,308 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>($623.8M) to <a href=\"https:\/\/twitter.com\/hashtag\/CoinbasePrime?src=hash&amp;ref_src=twsrc%5Etfw\">#CoinbasePrime<\/a> again 50 mins ago.<\/p>\n<p>Since the ETF was passed, <a href=\"https:\/\/twitter.com\/hashtag\/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw\">#Grayscale<\/a> has deposited 63,991 <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\">$BTC<\/a>($2.68B) to <a href=\"https:\/\/twitter.com\/hashtag\/CoinbasePrime?src=hash&amp;ref_src=twsrc%5Etfw\">#CoinbasePrime<\/a> during the opening hours of U.S. stocks (14:30 UTC).<\/p>\n<p>According to Arkham, <a href=\"https:\/\/twitter.com\/hashtag\/Grayscale?src=hash&amp;ref_src=twsrc%5Etfw\">#Grayscale<\/a> currently holds 549,116\u2026 <a href=\"https:\/\/t.co\/i1LtKryu6W\">pic.twitter.com\/i1LtKryu6W<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1749451186061873158?ref_src=twsrc%5Etfw\">January 22, 2024<\/a><\/p>\n<\/blockquote>\n<p dir=\"ltr\">With over 63,000 BTC sold since, one of the likely sellers could be the FTX estate, given it has offloaded several assets in the past few weeks.<\/p>\n<p dir=\"ltr\">Bitcoin price has struggled amid the BTC dump, reaching lows of $40,367 on Monday, January 22, 2024.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/ftxs-alameda-research-drops-lawsuit-against-grayscale\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Alameda Research, an affiliate of bankrupt crypto exchange FTX has dropped its case against Grayscale. The lawsuit\u2019s dismissal comes as Grayscale\u2019s GBTC sees huge outflows following SEC\u2019s spot Bitcoin ETF approval. Alameda Research, the collapsed crypto trading arm of bankrupt cryptocurrency exchange FTX, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":25760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25759"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=25759"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/25759\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/25760"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=25759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=25759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=25759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}