March 31, 2023

Unsecured creditors of crypto lender Voyager Digital have issued subpoenas to executives of crypto exchange FTX, including co-founder and former CEO Sam Bankman-Fried. The subpoenas were filed by the Voyager Digital Unsecured Creditors Committee and are part of a wider legal battle between the two companies.

The subpoenas request that Bankman-Fried and other FTX executives appear for remote depositions on February 23rd. Among those named in the subpoenas is Samuel Trabucco, the former co-CEO of FTX US.

Unsecured Creditors of Voyager Digital Subpoena FTX Executives in $1.5 Billion Legal Battle

The subpoenas are related to FTX’s attempt to acquire Voyager Digital when the lender went bankrupt in July 2022. At the time, FTX US reached a deal for around $1.5 billion with Voyager, but the Texas Security Board opposed the deal, arguing that FTX was not registered with the regulator.

The legal battle between the two companies has been ongoing, with Voyager Digital’s lawyers responding to FTX’s claims that the lender had failed to do due diligence before loaning money to Alameda Research, which is also connected to FTX.

The latest round of subpoenas comes after bankruptcy administrators for FTX issued their own subpoenas to Bankman-Fried and other FTX executives last week.

The legal battle between Voyager Digital and FTX is likely to continue for some time, as both sides seek to protect their interests and ensure that their respective claims are heard in court.

It remains to be seen what impact these legal proceedings will have on the wider cryptocurrency industry, which has been subject to increased scrutiny and regulatory pressure in recent months.

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