Bankrupt crypto exchange FTX sues Crypto.com to recover $11 million locked in an account linked to Alameda Research.
FTX claims Alameda used aliases and shell companies to conceal trading activities, complicating asset recovery.
Crypto.com reportedly locked the disputed account post-bankruptcy, citing mismatched account details with FTX administrators.
Former Alameda CEO Caroline Ellison confirms the account’s connection to Alameda, reinforcing FTX’s stance.
FTX leverages claims against Crypto.com’s parent companies, requesting their deferment until the $11 million is released.
Stablecoin dominance drops as investors pour funds back into Bitcoin, signaling robust demand and bullish momentum.
FTX aims to reclaim billions for creditors, but this case is just one of many in its long road to recovery.