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(Reuters) – Alameda Research, a subsidiary of bankrupt cryptocurrency exchange FTX, dropped a lawsuit against Grayscale Investments that had accused the digital asset manager of “enriching itself at the expense of shareholders,” a court filing showed on Monday.
Alameda, which filed the lawsuit in a Delaware court in March last year, also accused Grayscale of charging high fees and refusing to allow investors to redeem their shares of its two cryptocurrency-focused trusts, Grayscale Trust (GBTC) and Grayscale Trust. .
Grayscale CEO Michael Sonnenshein was named in the lawsuit along with parent company Digital Currency Group (DCG) and its CEO Barry Silbert.
Grayscale did not immediately respond to a Reuters request for comment.
GBTC began trading as an exchange-traded fund earlier this month on the NYSE Arca after the U.S. Securities and Exchange Commission approved converting its existing Grayscale bitcoin Trust into an ETF.
Since going bankrupt in November 2022, FTX has been trying to recover assets to pay its creditors.
