Alameda Research to sell interest in Sequoia Capital for $45M to Abu Dhabi

The latest update successful the FTX bankruptcy lawsuit comes arsenic a caller woody was struck betwixt the defunct cryptocurrency speech and Abu Dhabi.

A tribunal document from the United States Bankruptcy Court for the District of Delaware connected March 8 revealed that Alameda Research, the concern subdivision of FTX, volition merchantability its remaining interest successful task superior steadfast Sequoia Capital to the Abu Dhabi sovereign wealthiness fund.

According to the document, FTX “decided to participate into the Agreement with Purchaser based connected its superior connection and quality to execute the Sale Transaction wrong a abbreviated clip frame.” This was aft involvement successful purchasing the shares from 4 antithetic parties.

Al Nawwar Investments RSC Limited, the purchaser of Alameda’s share, is owned by the authorities of Abu Dhabi - the superior metropolis of the United Arab Emirates. The papers states that the purchaser is already invested successful Sequoia.

The woody is worthy $45 cardinal successful currency and has the imaginable to beryllium closed by March 31. However, it is taxable to support by the Delaware bankruptcy justice John Dorsey.

This effort to merchantability disconnected its remaining involvement successful Sequoia Capital is simply a portion of FTX’s attempts to liquidate its investments successful bid to wage disconnected its indebtedness to creditors.

Dorsey has been actively progressive successful aspects of the ineligible cases, which are presently up against FTX. After its archetypal bankruptcy filing, the erstwhile speech was granted support by Dorsey to merchantability disconnected immoderate of its assets.

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Those assets included ​​the derivatives level LedgerX, the stock-clearing level Embed and the company’s determination branches FTX Japan and FTX Europe.

Back successful January of this year, it was reported that FTX recovered implicit $5 billion successful currency and liquid crypto assets.

In a related case, connected March 8, tribunal documents revealed that Dorsey approved that Voyager Digital volition acceptable speech $445 cardinal aft Alameda Research sued the institution connected the ground of indebtedness repayments.