Jump Trading's Tai Mo Shan Claims FTX Estate Owes $264 Million Over Unfulfilled Loan Involving 800 Million SRM Tokens
Jump Trading's subsidiary, Tai Mo Shan, is claiming that the FTX estate owes it $264 million over a loan involving 800 million SRM that Alameda never delivered. However, lawyers for the estate say that the claim is invalid because the loan was never initiated. The FTX bankruptcy estate is pushing back against the claim, arguing that the loan agreement was never fulfilled because Alameda did not deliver the SRM tokens as specified. The estate also alleges that Tai Mo Shan might have engaged in fraudulent transfers and that the Master Loan Agreement and Loan Confirmation provide that Tai Mo Shan would receive 800 million SRM tokens for no fee and no interest, which is questionable.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Transak secures key licenses in Canada and Delaware
DOJ charges Russian CEO in $250K crypto manipulation case
Bitcoin eyes 10% swing as US election nears
Bitcoin targets $66K as traders brace for market volatility