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.

Old Billingsgate

Mon - Wed, October 13 - 15, 2025

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 (1).jpg

Research

As AI supercharges surveillance, privacy becomes a prerequisite and the winning stack will combine confidentiality with selective disclosure. Zcash’s Tachyon, composable standards on Ethereum/Solana, and compliance-aware pools aim to make private rails the new norm.

article-image

Pipe’s testnet has delivered 60+ PB of data across ~290,000 Point of Presence (PoP) nodes

article-image

375ai will hold TGE at the end of the month, CEO Harry Dewhirst told Blockworks

article-image

Block’s subsidiary adds direct Bitcoin integration and AI-powered ordering tools for small businesses seeking streamlined transactions

by Blockworks /
article-image

The deal integrates Dinero’s staking suite into Plume’s real-world asset platform as it gains SEC transfer agent status

by Blockworks /
article-image

The state’s decision opens staking access to New Yorkers, signaling a regulatory shift toward broader crypto participation

by Blockworks /
article-image

The startup says it aims to rival Stripe and Worldpay by using stablecoins to speed merchant settlements from days to seconds

by Blockworks /