Layer-2 Altcoin Shoots Up 49% Despite $445M Alameda Lawsuit

Alameda Research, associated with FTX, filed a lawsuit on Monday against Voyager Digital Ltd VYGVF for the recovery of a staggering $445 million. 

What Happened: Despite this news, the price of Voyager VGX/USD surged by a remarkable 49.2% to $0.76 on Tuesday. This came after Voyager, FTX and Alameda filed for bankruptcy last year. 

However, Voyager's filing came four months earlier in July 2022, which prompted Alameda to demand that all outstanding loans to FTX and its sister company Alameda Research be repaid.

See More: Best Crypto Day Trading Strategies

According to the court filings, FTX made payments to Voyager totaling $446.7 million between August and October, including a $248.8 million payment in September and a $193.9 million payment in October, as well as a $3.2 million interest payment in August.

Read Next: Dogecoin Rises On Musk Effect, Bitcoin, Ethereum Slide: Analyst Says Inflation Risks 'Need To Go Away' Amid Regulatory Fears

Disclosure: Benzinga CEO Jason Raznick is a member of the unsecured creditor committee in the Voyager Digital bankruptcy case.