• According to the Judge, SBF could be trying to influence the fraud investigations against him in the collapse of FTX and Alameda.
• Alameda wants bankrupt Voyager Digital to refund $460 million in debts paid before maturity last year.

The FTX and Alameda case are in the third month and it may take even longer before the creditors are made fully compensated. With over $8 billion missing from FTX’s balance sheet, the acting CEO John Ray III has a challenging time reconstructing the company. Meanwhile, United States District Judge Lewis Kaplan placed a temporary restraining order against Sam Bankman-Fried (SBF) preventing him from communicating with former or current employees. 

Notably, the Judge has barred SBF from using encrypted messaging networks such as Signal to communicate with either Alameda or FTX employees. Reportedly, SBF has sent messages to former FTX and Alameda employees including acting CEO John Ray requesting physical meetings.

I would really love to reconnect and see if there’s a way for us to have a constructive relationship, use each other as resources when possible, or at least vet things with each other,

SBF message to FTX US general counsel Ryne Miller noted.

According to the Judge, SBF could be trying to influence the fraud investigations against him in the collapse of FTX and Alameda. However, SBF legal team did not agree with the ruling citing his assistance to help creditors recover funds from FTX and Alameda as critical. Notably, John Ray has indicated in previous house committee hearings that some FTX crypto wallets are missing security keys due to former leadership’s mismanagement.

Mind you, FTX was hacked and about $450 million was siphoned before filing for chapter 11 bankruptcy protection.

Alameda Woes Escalates FTX Mismanagement

As the FTX creditors continue to wait for the company’s liquidation to get repaid, Alameda is pushing to regain cash from Voyager. According to a lawsuit filed earlier this week, Alameda wants bankrupt Voyager Digital to refund $460 million in debts paid before maturity last year. However, Voyager’s creditors claim that Alameda’s “inequitable and fraudulent conduct” cost Voyager and the creditors between $114 million to $122 million. 

Notably, Voyager Digital sustained heavy losses last year from Three Arrows Capital amounting to over $660 million. As a result, Voyager Digital halted operations and filed for bankruptcy protection.

Meanwhile, acting FTX CEO John Ray has indicated that the company may never be able to fully repay the creditors. As such, he said before a House committee that the options of rebooting the bankrupt company are high to repay the creditors. 

Moreover, the FTX creditors may be given a stake in the newly formed company to recover lost funds over time. Meanwhile, all eyes are on the court to release the names of people who guaranteed SBF’s $250 million bond apart from his parents.