Overview

• The complaint, filed Sept. 22 in the U.S. Bankruptcy Court for the District of Delaware, targets Genesis Digital Assets, its affiliates, and co-founders Rashit Makhat and Marco Krohn.
• The trust alleges Sam Bankman-Fried funneled commingled FTX customer funds through Alameda Research to buy Genesis shares at inflated prices in 2021–2022.
• The filing claims Genesis founders personally sold about $551 million of their own shares to Alameda, allowing them to cash out as the company struggled.
• Beyond the $1.15 billion, the trust seeks additional sums identified in discovery along with interest, attorneys’ fees, and related costs.
• The suit comes as the trust readies a third distribution to creditors, with payments slated to begin Sept. 30, 2025.