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#BitcoinReserveWave LayerZero Labs has announced the resolution of its prolonged legal dispute with the FTX bankruptcy estate. The agreement, confirmed by LayerZero co-founder and CEO Bryan Pellegrino, ends a contentious two-year battle stemming from transactions made with Alameda Research just before FTX filed for bankruptcy.

The controversy centered on an agreement under which Alameda Research, led by CEO Caroline Ellison, agreed to sell a 5% stake in LayerZero back to the company. This stake was valued at 150 million dollars at the time of the lawsuit. In exchange, LayerZero would forgive a 45 million dollar loan it had granted to Alameda. The lawsuit from the FTX bankruptcy estate alleged that these transactions were fraudulent, as they were conducted when Alameda was insolvent.

Another point of contention was an agreement whereby Alameda would sell 100 million Stargate (STG) tokens back to LayerZero at a significantly reduced price compared to the original purchase, although this transaction never materialized.

Pellegrino had previously dismissed the lawsuit as baseless, stating that LayerZero had made efforts to resolve the issue regarding the shares but did not receive a response.

With this latest development, Pellegrino expressed relief at the conclusion of the legal process, noting that the original buyback had been returned to the FTX bankruptcy estate. The CEO highlighted the company's desire to move forward, focusing on the development of its business without the distraction of ongoing litigation.