Alameda Research has agreed to claim $175 million from the estate of Genesis Global, according to an agreement submitted to the court on Aug. 16. This resolves the dispute between the two bankrupt entities over claims against each other.

Massive reduction from initial $3.88 Billion

The agreement represents a significant drop in the original claim by Alameda Research against Genesis. Alameda, which declared bankruptcy in November 2022 along with FTX, had initially brought actions for claims totaling $3.88 billion.

It claimed this includes loan repayments to Alameda and Genesis withdrawals from FTX.

However, Genesis, which filed for bankruptcy in January 2023 when it could no longer meet debt obligations, is also the largest unsecured creditor of FTX. The lender claims it is owed $226 …