Overview
- The adversary complaint was filed on Sept. 22 in U.S. Bankruptcy Court in Delaware, naming Genesis Digital Assets and co-founders Rashit Makhat and Marco Krohn.
- Between August 2021 and April 2022, Alameda Research invested $1.15 billion across four rounds at what the estate calls outrageously inflated prices while FTX was insolvent.
- The filing says Makhat received about $470 million and Krohn $80.9 million for personal shares, totaling roughly $551 million paid out by Alameda.
- The trust alleges most of the money came from FTX.com customer deposits routed through Alameda, citing red flags such as Kazakhstan power constraints, unaudited financials, and reports of illicit‑finance risks.
- Genesis Digital declined to comment, and the case now enters discovery as the estate pursues wider clawbacks and readies another creditor distribution scheduled for Sept. 30.