TechFlow News — According to a court filing submitted on May 3 to the New York bankruptcy court, FTX's legal team plans to file a motion at the FTX hearing on May 25 to recover nearly $4 billion in cash and cryptocurrency from Genesis Global Capital.
The funds involve an $1.8 billion loan sought by Alameda Research and $273 million in collateral allegedly provided to Genesis; $1.6 billion withdrawn by Genesis, and an additional $213 million allegedly pulled out by its BV entity, GGC International, from the exchange prior to entering Chapter 11 bankruptcy on November 11, 2022.
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