FTX Affiliate Alameda Research Drops Grayscale Lawsuit

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New York Stock Exchange with banner flagging ProShares Bitcoin Strategy ETF on the day it started trading.
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The lawsuit, filed last March, alleges more than $9 billion in investor funds became trapped in Grayscale’s Bitcoin Trust (GBTC), following the collapse of FTX. The complaint formed part of wider efforts to retrieve and “maximize” recoveries for FTX customers whose funds were funds lost by, or locked on, the failed cryptocurrency exchange and its affiliates’ platforms. The suit also alleged Grayscale had excessively high fees. Monday’s filing did not provide a reason for Alameda dropping the suit.

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