FTX debtor Alameda wants to claw back $445.8 million from Voyager

By Sarah Lizee

Olympia, Wash., Jan. 31 – FTX Trading Ltd. debtor Alameda Research Ltd. filed an adversary proceeding against bankrupt Voyager Digital, LLC seeking to claw back $445.8 million, according to documents filed Monday with the U.S. Bankruptcy Court for the District of Delaware.

Between 2021 and 2022, Voyager lent hundreds of millions worth of cryptocurrency to Alameda. When Voyager filed its own bankruptcy cases in July 2022, it demanded repayment of all outstanding loans to Alameda, including prior to stated maturity dates. Alameda said Voyager was repaid in full.

The adversary proceeding seeks to recover those funds as preferential transfers for the benefit of Alameda’s creditors.

“The collapse of Alameda and its affiliates amid allegations that Alameda was secretly borrowing billions of FTX-exchange assets is widely known,” Alameda said in the adversary proceeding.

“Largely lost in the (justified) attention paid to the alleged misconduct of Alameda and its now-indicted former leadership has been the role played by Voyager and other cryptocurrency ‘lenders’ who funded Alameda and fueled that alleged misconduct, either knowingly or recklessly.”

FTX has headquarters in the Bahamas. The company filed Chapter 11 bankruptcy on Nov. 11 under case number 22-11068.

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