Legal Battle Over $9 Billion in Bitcoin Trust: Alameda vs. Gemini
Alameda Research has requested more time to gather co-plaintiffs in its lawsuit against Grayscale, seeking to unlock billions of dollars in investments from two of Grayscale's trusts. The FTX affiliate needs additional shareholders to proceed with the lawsuit, as one anticipated co-plaintiff unexpectedly withdrew. The deadline for response to Grayscale's motion to dismiss the lawsuit has been extended to September 15. The lawsuit aims to unlock $9 billion in value for shareholders by implementing a redemption plan and reducing associated fees. Grayscale is also engaged in a lawsuit with the SEC over redemption issues with its Bitcoin Trust.