FTX’s Alameda dismisses lawsuit against Grayscale

The suit, filed back in March, lacked “merit” according to Grayscale

article-image

Grayscale and Adobe Stock modified by Blockworks

share

Alameda dropped its lawsuit against Grayscale on Monday.

The dismissal, confirmed by a Grayscale spokesperson, ends the injunctive relief originally sought by Alameda Research last March. 

“We are pleased to confirm that Alameda Research, FTX’s affiliated hedge fund, has voluntarily dismissed its lawsuit against Grayscale,” a Grayscale spokeswoman told Blockworks. “Alameda’s voluntary dismissal underscores Grayscale’s position that this legal action was entirely without merit.”

The statement echoes Grayscale’s original comment to Blockworks on the suit, saying that it lacked “merit.”

The complaint was originally filed with Delaware’s Court of Chancery.

The FTX debtors also named CEO Michael Sonnenshein, Grayscale parent company Digital Currency Group, and CEO Barry Silbert in the filing.

Read more: Why the planned fee for Grayscale’s bitcoin ETF is much higher than others

The injunctive relief sought by the debtors, according to a press release at the time, was to “unlock $9 billion or more in value for shareholders of the Grayscale Bitcoin and Ethereum Trusts.”

Alameda alleged initially that Grayscale had collected $1.3 billion in management fees, violating its trust agreement.

In August, Alameda said that it was attempting to add more plaintiffs to its suit against Grayscale. It claimed to have around 45 parties willing to “participate as additional plaintiffs” though it failed to name any of the interested parties.

However, by September, Alameda hadn’t added any new plaintiffs. 

Blockworks reported at the time that Alameda was asking shareholders about their willingness to participate in the suit.

Grayscale filed a motion to dismiss prior to Alameda’s voluntary dismissal.


Get the news in your inbox. Explore Blockworks newsletters:

Tags

Decoding crypto and the markets. Daily, with Byron Gilliam.

Upcoming Events

Javits Center North | 445 11th Ave

Tues - Thurs, March 24 - 26, 2026

Blockworks’ Digital Asset Summit (DAS) will feature conversations between the builders, allocators, and legislators who will shape the trajectory of the digital asset ecosystem in the US and abroad.

recent research

Unlocked by Template.png

Research

The march toward an interoperable and onchain-by-default internet depends on reliable messaging and value transfer across heterogeneous domains. Crosschain protocols now process >$1.3T in combined annual transfer volume and secure tens of millions of user interactions, yet no single design dominates.

article-image

The goal, per Santiago Santos, is to make crypto a relatable piece of tech for people who may not even understand it

article-image

Stripe stablecoin unit aims to operate under a federal charter enabling regulated stablecoin issuance and custody services

by Blockworks /
article-image

Will TradFi make crypto better or create more problems than it solves?

article-image

Subtle decisions by risk curators saved Aave from significant turmoil

article-image

The new Rootstock Institutional unit aims to connect professional investors to Bitcoin-native yield and liquidity strategies anchored in BTC’s security layer

by Blockworks /
article-image

DOJ files record civil forfeiture against more than 127,000 BTC linked to scam activity

by Blockworks /