Modulo Capital Founder to Return $400 Million to Alameda Research Amid FTX Investigation

02/15/2023 10:26 • Tech Trends • 111 views

On February 15, the New York Times quoted people familiar with the matter as reporting that the founder of Modulo Capital had been reviewed by the prosecutor investigating FTX and was negotiating with the FTX bankruptcy lawyer to return Alameda Research’s $400 million investment. People familiar with the matter said that FTX bankruptcy lawyers hoped to use FTX to exempt Modulo Capital from certain legal liabilities in exchange for the return of investment funds. This part of the fund is currently deposited at JPMorgan Chase.

Insiders: The founder of Modulo Capital is negotiating with the FTX bankruptcy lawyer for the return of $400 million in investment

Analysis based on this information:

The founder of Modulo Capital, a cryptocurrency fund that had received a $400 million investment from Alameda Research, is reportedly negotiating with FTX’s bankruptcy lawyer to return the investment. The news came from sources familiar with the matter, who said that the founder had been reviewed by the prosecutor investigating FTX, which implies that Modulo Capital may be implicated in some way in the ongoing investigation.

It is not clear what exactly the charges against FTX and Modulo Capital are, but the fact that FTX’s bankruptcy lawyer is involved suggests that the exchange may be facing financial difficulties. Bankruptcy lawyers are typically hired to help a company manage its debts and liabilities when it is facing insolvency or is already in bankruptcy.

The sources also said that FTX’s lawyers are hoping to use the return of the investment to exempt Modulo Capital from certain legal liabilities. This suggests that there may be some sort of legal proceedings or lawsuits against Modulo Capital, and returning the investment could be seen as a way to settle those matters.

It is noteworthy that the funds are currently deposited at JPMorgan Chase, a major global bank. This suggests that the investment was made through a formal, regulated process, and that the funds are being held in a secure manner.

The news of the investigation and the possible return of the investment could have significant implications for the cryptocurrency industry. The involvement of a major player like Alameda Research and the fact that the investment was made through a regulated process could increase scrutiny on the cryptocurrency world and put pressure on exchanges and funds to be more transparent and accountable.

In conclusion, the news of the investigation and the possible return of the investment raises a number of questions about the state of the cryptocurrency industry and the regulatory environment surrounding it. The fact that a major cryptocurrency fund like Modulo Capital is being investigated and may be facing legal liabilities highlights the risks and uncertainties facing investors in this rapidly evolving industry.

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