Insights

💼 FTX Bankruptcy Estate Challenges Jump Trading's $264M Claim The battle between FTX and Jump Trading's subsidiary, Tai Mo Shan, has escalated as the disputed loan of 800 million Serum (SRM) tokens from Alameda Research takes center stage. 🤝 Token Troubles: FTX vs. Jump Trading Over SRM Loan Tai Mo Shan is adamant that the undelivered tokens warrant a hefty sum of $264 million in damages. However, FTX's legal team counters this claim, asserting that the loan never even got off the ground. 📉 Serum Saga : A Fall from Grace for FTX-Backed DEX As the dust settles on FTX's bankruptcy, the collapse of decentralized exchange Serum reveals a tangled web. Despite its claims of decentralization, insiders suggest FTX held significant sway over Serum's operations. 💰 800 Million Tokens Hang in the Balance The missing SRM tokens make up a staggering 80% of the total supply, dwarfing the amount currently in circulation. The stakes are high as both parties wrangle over their value. ➡️ Options Models and Legal Wrangling Jump Trading brings out the big guns with an options model to calculate damages, factoring in market prices, volatility, and interest rates. However, FTX's lawyers stand firm, highlighting that the loan agreement was never fulfilled. 🔴 "The Loan Never Commenced," Asserts FTX In a bold statement, FTX's legal eagles underline that Alameda failed to deliver as promised. With a clear clause allowing for voiding in such cases, they argue that the loan was dead in the water from the start.