Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Jump Trading's Tai Mo Shan Claims FTX Estate Owes $264 Million Over Unfulfilled Loan Involving 800 Million SRM Tokens

Jump Trading's Tai Mo Shan Claims FTX Estate Owes $264 Million Over Unfulfilled Loan Involving 800 Million SRM Tokens

CointimeCointime2024/07/11 06:59
By:Cointime

Jump Trading's subsidiary, Tai Mo Shan, is claiming that the FTX estate owes it $264 million over a loan involving 800 million SRM that Alameda never delivered. However, lawyers for the estate say that the claim is invalid because the loan was never initiated. The FTX bankruptcy estate is pushing back against the claim, arguing that the loan agreement was never fulfilled because Alameda did not deliver the SRM tokens as specified. The estate also alleges that Tai Mo Shan might have engaged in fraudulent transfers and that the Master Loan Agreement and Loan Confirmation provide that Tai Mo Shan would receive 800 million SRM tokens for no fee and no interest, which is questionable.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like

“Want to take over WazirX, help users”: CoinDCX Co-founder

"We want to. But it’s also dependent on WazirX. If they want to," Neeraj Khandelwal, Co-founder of CoinDCX said.

Cryptotimes2024/12/22 19:44