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FTX Recovery Trust sues Genesis Digital to recover $1.15B in allegedly fraudulent transfers

CryptoSlate•Tuesday, September 23, 2025 at 7:00:54 PM
PositiveCryptocurrency
FTX Recovery Trust sues Genesis Digital to recover $1.15B in allegedly fraudulent transfers
The FTX Recovery Trust has taken a significant step by suing Genesis Digital Assets to reclaim $1.15 billion in funds that were allegedly transferred fraudulently by Sam Bankman-Fried, the co-founder of the now-defunct FTX exchange. This lawsuit, filed in the US Bankruptcy Court for Delaware, highlights the ongoing efforts to recover lost assets and hold accountable those involved in the collapse of FTX. It matters because it could set a precedent for similar cases in the cryptocurrency sector, emphasizing the importance of accountability in financial transactions.
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