Modulo Capital
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FTX proposes to recover $460 million from Modulo Capital’s hedge fund
According to reports, FTX has proposed a motion to reach a settlement agreement to recover $460 million in assets for stakeholders. Alameda Research invested $400 million in Modulo Capital in 2022. According to the filing documents, the recovered assets of $460 million accounted for over 99% of the remaining assets of Modulo, including $404 million in cash. Modulo will also waive any claims for the $56 million assets held in FTX.com and FTX.US accounts. As a result of the settlement, Alameda will also lose any claims for its stake in…
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Insiders: The founder of Modulo Capital is negotiating with the FTX bankruptcy lawyer for the return of $400 million in investment
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. Interpretation of this information: The…
