Alameda Sues Grayscale, DCG, and Barry Silbert Aiming to Retrieve $9B+

• Alameda Research filed a lawsuit against Grayscale and its CEO, Michael Sonnenshein, as well as the Digital Currency Group and its CEO, Barry Silbert.
• Alameda Research is “seeking injunctive relief to unlock $9 billion or more in value for shareholders” as well as the lowering of fees.
• According to the press release, “Grayscale has extracted over $1.3 billion in exorbitant management fees in violation of the Trust agreements” over the previous two years.
• Grayscale has used obscure excuses to prevent shareholders from redeeming their shares.
• The FTX Group has been embroiled in an effort to locate and retrieve its assets since the bankruptcy filing in November.
• FTX’s bankruptcy CEO stated that the search is a “herculean task” as the company had next to no record-keeping practices.
• The debtors’ latest update revealed that both FTX international and FTX.US still have “massive shortfalls” and that most of the recovered assets aren’t liquid.

This is a breaking story and will be updated.