LayerZero Ends FTX Dispute, Refocuses on Growth | Airdrop Alert Pro

After more than two years of legal struggle and millions of dollars of legal costs, Loyezero Labs has reached a settlement agreement with the FTX heritage.

Due to the legal disputes behind it, Loyezero is now focusing on expanding its comprehensive infrastructure. It will maintain leadership in the operation of blockchain will be a key factor in its continuous success.

FTX and Layerzero background

The dispute can be traced back to March 2022, when FTX Ventures participated in Layerzero Labs $ 135 million in funds. FTX’s sister trading company Alameda Ventures invested more than $ 70 million between January and May 2022 to acquire 4.92 % of Loyezero’s shares.

Ala Mida also purchased a $ 100 million Interstellar Gate Financial (STG) tokens at a price of $ 25 million, and obtained a loan of $ 45 million from Loyezero at a 8 % annual interest. Below FTX collapsed in November 2022Loyezero tried to buy its shares from Alamida by canceling a loan of $ 45 million.

In the months before FTX’s bankruptcy, the move and its large withdrawal triggered a legal lawsuit of the FTX heritage. The exchange should recover the assets. Coincidentally, FTX Estate accused Lyrezero using Alameda Research’s financial difficulties.

“Loyeszero tries to immediately repay its US $ 45 million loan to Alameda Research to use Alameta Research’s bad financial situation.” Record read.

litigation Try to withdraw 21.37 million US dollars of funds from 90 days of 90 days, Lyezero withdrew from FTX Bankruptcy of the exchangeEssence Also, it In the past, LOYSERO COO ARI LITAN sought $ 13.07 million and sought $ 6.65 million from its subsidiary Skip & Goose.

Latest reconciliation details

Layerzero Labs co -founder and CEO Brian Pellegrino confirmed the agreement in X (Twitter) posts, expressing the return of the first purchase. He is also committed to the growth of Layerzero’s ecosystem.

“After more than two years of lawyers (lawyers always win), we reached a settlement agreement with the FTX heritage. In the end, we think this is not us with FTX. It is also one of us and one of them). WriteEssence

According to the solution, Layerzero agrees to return the original repurchase amount to the FTX bankruptcy foundation. The agreement was completed on January 31, 2025, allowing Layerzero to move forward without the need to make the laws that it operated on the shadow.

Beincrypto data show Since the opening of the meeting on Friday, Layerzero’s ZRO tokens have increased by nearly 5 %. As of writing this article, its transaction price was $ 3.79.

Apart from Wide market optimismBecause the encrypted industry experts believe that the resolution is the strategic victory of Loyezero, this surge has emerged.

“This is not just damage control, this clear the slate, and they focus on the real important things: maintain the backbone of Omnichain, and have 18 network integration and counting,” AI Terminal Vaticus CommentEssence

Comprehensive interoperability It is still the key pillar of blockchain technology in the future. Loyezero has enhanced its long -term survivability while maintaining its market advantages while reducing its market advantages.

At the same time, the arrival of reconciliation FTX ESTATE starts its repayment processEssence As Beincrypto reports, FTX creditors can expect to receive their funds within 60 days from January 3, 2025. This marks a step of the company’s bankruptcy procedure.

At the same time, legal disputes around FTX founders Sam Bank-Fric (SBF) Continue. The recent report shows His parents are seeking president for pardon From Donald Trump.

Bankman Fried was convicted for many fraud allegations related to the collapse of FTX. His sentencing was still a highly noticed issue in financial and political space.