An FTX trust has initiated legal action against Genesis Digital Assets, seeking to recover $1.15 billion that it alleges was fraudulently transferred by Sam Bankman-Fried (SBF), the co-founder of the now-defunct cryptocurrency exchange.

The lawsuit , filed in the US Bankruptcy Court for the District of Delaware, targets Genesis Digital, its affiliates, and co-founders Rashit Makhat and Marco Krohn, demanding the return of funds that the trust claims were derived from commingled and misappropriated assets belonging to FTX.

FTX Trust’s Pursuit Of Fraudulent Transfers

The lawsuit alleges that a significant portion of the disputed funds originated from customer deposits at the FTX.com exchange. The FTX Recovery Trust contends that Bankman-Fried’s transactions with Genesis Digital were

See Full Page