【Alameda Research Sues Waves Founder, Attempting to Recover at Least $90 Million】On January 11, according to The Block, the bankrupt cryptocurrency exchange FTX's trading subsidiary Alameda Research has filed a lawsuit against Waves and its founder Aleksandr Ivanov, attempting to recover at least $90 million. Alameda stated in a document on Sunday that it seeks the transfer of $90 million worth of assets owned by the debtors in the Alameda and FTX bankruptcy cases, adding that Alameda had previously deposited these assets on the liquidity platform Vires.Finance operated by Waves. According to the document, in March 2022, Alameda deposited approximately $80 million in USDT and USDC on Vires, which were allegedly converted into USDN worth about $90 million. Vires users were encouraged to deposit assets into Vires through the Waves blockchain to earn rewards or interest and to gain governance rights in Vires DAO. Alameda stated: “While Ivanov promoted Waves and Vires as opportunities for lenders and other users to earn substantial profits, Ivanov secretly orchestrated a series of trades that artificially inflated the value of WAVES while siphoning funds from Vires.” Alameda pointed out that the debtor “has repeatedly attempted to regain custody of the frozen assets,” and Ivanov “agreed to participate in a call with the debtor in January 2023.” However, the document states that Ivanov has since ignored all other efforts of the debtor. In recent days, the FTX bankruptcy estate administrators have filed over 20 lawsuits against various entities to recover funds for creditors.