Overview

• Filed in the U.S. Bankruptcy Court for the District of Delaware, the suit names Genesis Digital Assets, affiliated entities, and co-founders Rashit Makhat and Marco Krohn.
• The trust seeks $1.15 billion plus interest, attorneys’ fees, costs, and any additional amounts identified through discovery.
• The complaint alleges that 2021–2022 investments were made at inflated prices with funds traced to FTX.com customer deposits while the exchange was insolvent.
• According to the filing, Makhat and Krohn personally benefited by selling more than $550 million of their shares to Alameda Research.
• The action is described as one of the largest clawback efforts since FTX’s 2022 collapse and comes as the trust prepares a third distribution to creditors beginning September 30, 2025.