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Bankrupt FTX affiliate Alameda sues Grayscale


(Reuters) – FTX mentioned on Monday its affiliate Alameda Analysis had sued asset supervisor Grayscale Investments for imposing a “redemption ban” that “may notice over 1 / 4 billion {dollars}” of asset worth for the bankrupt cryptocurrency alternate’s prospects.

If Grayscale had lowered its charges and didn’t implement redemption prevention measures, which the cryptocurrency alternate alleges are improper, FTX’s shares can be price practically 90% greater than the present worth of these locked up with the asset supervisor, FTX mentioned.

FTX additionally accused Grayscale proprietor Digital Foreign money Group of breaching belief agreements and fiduciary duties.

(Reporting by Niket Nishant in Bengaluru; Modifying by Krishna Chandra Eluri)

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