The suit, filed back in March, lacked “merit” according to Grayscale. by Katherine Ross /. January 22, 2024 02:31 pm. Grayscale and Adobe Stock modified by Blockworks. Alameda dropped its lawsuit against Grayscale on Monday.. The dismissal, confirmed by a Grayscale spokesperson, ends the injunctive relief originally sought by Alameda Research last March.. “We are pleased to confirm that Alameda Research, FTX’s affiliated hedge fund, has voluntarily dismissed its lawsuit against Grayscale,” a Grayscale spokeswoman told Blockworks. “Alameda’s voluntary dismissal underscores Grayscale’s position that this legal action was entirely without merit.”. The statement echoes Grayscale’s original comment to Blockworks on the suit, saying that it lacked “merit.”. The complaint was originally filed with Delaware’s Court of Chancery.. The FTX debtors also named CEO Michael Sonnenshein, Grayscale parent company Digital Currency Group, and CEO Barry Silbert in the filing.. Read more: Why the planned fee for Grayscale’s bitcoin ETF is much higher than others. The injunctive relief sought by the debtors, according to a press release at the time, was to “unlock $9 billion or more in value for shareholders of the Grayscale Bitcoin and Ethereum Trusts.”. Alameda alleged initially that Grayscale had collected $1.3 billion in management fees, violating its trust agreement.. In August, Alameda said that it was attempting to add more plaintiffs to its suit against Grayscale. It claimed to have around 45 parties willing to “participate as additional plaintiffs” though it failed to name any of the interested parties.. However, by September, Alameda hadn’t added any new plaintiffs.. Blockworks reported at the time that Alameda was asking shareholders about their willingness to participate in the suit.. Grayscale filed a motion to dismiss prior to Alameda’s voluntary dismissal.. Don’t miss the next big story – join our free daily newsletter.. Tags. Alameda Research. FTX. Grayscale. Newsletter. Blockworks Daily. Upcoming Events. Digital Asset Summit 2024. Hilton Metropole | 225 Edgware Rd, London. Mon – Wed, March 18 – 20, 2024. Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience: Attend expert-led panel discussions and fireside chats Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts.. buy ticketslearn more. Permissionless III. Salt Lake City, UT. WED – FRI, OCTOBER 9 – 11, 2024. Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains . . learn more. recent research. Research. In this report, each analyst on the Blockworks Research team lays out their highest conviction thesis for 2024.. by Sam Martin. more from news. Select a tab. Plus, a game that creates 3D versions of NFTs and Pudgy Penguins’ price floor hits an all-time high. by Jack Kubinec /. January 21, 2024. Elsewhere, Axie Infinity’s developer gets its first CEO and 1inch DAO lawyers up. by Jack Kubinec /. January 21, 2024. Plus, a car data monetization platform scores $11.5 million and liquid restaking sees dry powder. by Jack Kubinec /. January 20, 2024. We should be doing more to make “not your keys, not your coins” a description of the bad old days rather than a prescription for the future. by Chris Brooks /. January 20, 2024. Spot bitcoin ETFs by BlackRock and Fidelity each passed $1 billion in assets after five days of trading. by Ben Strack /. January 19, 2024. ERC-3643 is designed to deny transactions or actions if counterparties fail to meet compliance requirements. by Bessie Liu /. January 19, 2024