FTX and Genesis have agreed to pay $175 million to Alameda Research, settling the long-standing $3.9 billion dispute.
The settlement means that FTX has withdrawn its claims against Genesis and its affiliates, while Genesis waives all claims against FTX.
This agreement effectively brings an end to the legal battle that was initiated in May 2023.
The debt that Genesis owed to Alameda Research had been reduced to $226 million prior to the agreement.
At the time of the agreement in principle, the legal teams of both sides had disputed the assessment, but the dispute appears to have been resolved by this settlement.
The significant amount of liquid assets, worth around $7 billion, have been returned to FTX’s management team.
