Layerzero reached a settlement with FTX bankruptcy assets, returned to $ 150 million in equity and exempts $ 45 million in debt

Panews News on January 31. According to The Block, Layerzero Labs reached a settlement agreement with FTX bankruptcy assets to end a two -year legal dispute. Earlier, FTX assets accused Layerzero reaching a "fraud transaction" with Alameda Research in 2023, that is, a few days before FTX bankruptcy, Alameda returned to Layerzero to Layerzero's 5%equity (litigation It is worth $ 150 million). Another transaction involving 100 million STARGATE tokens (initial costs of $ 25 million and a discount to $ 10 million) was not completed. Layerzero co -founder Bryan Pellegrino said that the original equity repurchase has returned the FTX asset party and said that "after reconciliation can focus on technology development."