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Alameda Sues Grayscale and DCG to Allow Redemptions, Reduce Fees

FTX sister company Alameda Research has filed a lawsuit against crypto asset manager Grayscale Investments seeking injunctive relief to realize what it claims is over $250 million in asset value for the FTX Debtor’s customers and creditors, according to a press release.

The suit was filed in the Court of Chancery in the State of Delaware and also asserted claims against Grayscale CEO Michael Sonnehshein and Grayscale’s owners, Digital Currency Group (DCG) and its CEO, Barry Silbert.

According to Alameda’s complaint, Grayscale has extracted exorbitant management fees for its management of the Grayscale Bitcoin and Ethereum Trusts, and has allowed those Trusts’ shares to trade at roughly a 50% discount to their net asset value.

Alameda Grayscale DCG FTX
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