A Blank Rome team successfully represented Marco Krohn, co-founder of Genesis Digital Assets Limited, one of the world’s largest Bitcoin mining companies, in defeating claims brought by FTX Recovery Trust seeking approximately $1.15 billion. On June 15, 2026, FTX Recovery Trust filed a Notice of Dismissal of all claims against Mr. Krohn dismissing its avoidance actions against him with prejudice, fully resolving one of the largest clawback suits arising from the FTX bankruptcy.
FTX filed suit in September 2025 in the United States Bankruptcy Court for the District of Delaware, alleging that over one billion dollars in investments made by Alameda Research into Genesis Digital Assets between 2021 and 2022 constituted fraudulent transfers of misappropriated customer funds. The action was among the largest of dozens of recovery suits filed by the FTX estate following the exchange’s collapse in November 2022, which revealed that more than eight billion dollars in customer deposits had been diverted.
Blank Rome’s White Collar Defense & Investigations, Bankruptcy & Restructuring, and Digital Assets Litigation practices regularly advise individuals and companies facing complex claims arising from cryptocurrency insolvencies, government investigations, and cross-border regulatory actions.
The Blank Rome team was led by Bradley L. Henry, with assistance from Evan Jason Zucker, Thomas A. Cournoyer, and Rebecca L. Orel.