Jump Trading Drags FTX Estate to Court Over $264M Serum Token Loan
Summary
FTX bankruptcy estate disputes Jump Trading's subsidiary Tai Ho Shan's claim for 800 million Serum (SRM) tokens, alleging the loan never commenced. SRM was the native token of the collapsed decentralized exchange Serum. Jump Trading seeks $264 million in damages based on an options model. FTX estate challenges the valuation and alleges fraudulent transfers by Tai Mo Shan. The estate questions the lack of contract provisions for the alleged loan. SRM's value has plummeted from its peak in 2021.
