PANews reported on June 23 that FTX bankruptcy management lawyers recently objected to the $1.53 billion claim filed by Three Arrows Capital (3AC), requesting the court to reject it in full. The lawyers stated that 3AC's losses were due to market fluctuations and its own withdrawal, unrelated to FTX. In March of this year, the bankruptcy court approved 3AC's claim amount to be increased from $120 million to $1.53 billion. In November 2024, 3AC claimed that it discovered new evidence indicating that FTX sold off $1.5 billion worth of assets two weeks before it initiated liquidation. However, FTX's lawyers countered that the claim was based on unreasonable premises, inaccurate data, and neglect of the facts. FTX pointed out that after the collapse of Terra in June 2022, 3AC's account balance fell below $240 million, yet it did not replenish the margin and instead withdrew $18 million in ETH. FTX subsequently closed positions on $820 million worth of assets to avoid a loss of $18 million when the account went bankrupt. 3AC must submit a response by July 11, with a hearing scheduled for August 12.
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FTX's lawyers claim that Three Arrows Capital's $1.5 billion claim is "unreasonable" and should be dismissed.
PANews reported on June 23 that FTX bankruptcy management lawyers recently objected to the $1.53 billion claim filed by Three Arrows Capital (3AC), requesting the court to reject it in full. The lawyers stated that 3AC's losses were due to market fluctuations and its own withdrawal, unrelated to FTX. In March of this year, the bankruptcy court approved 3AC's claim amount to be increased from $120 million to $1.53 billion. In November 2024, 3AC claimed that it discovered new evidence indicating that FTX sold off $1.5 billion worth of assets two weeks before it initiated liquidation. However, FTX's lawyers countered that the claim was based on unreasonable premises, inaccurate data, and neglect of the facts. FTX pointed out that after the collapse of Terra in June 2022, 3AC's account balance fell below $240 million, yet it did not replenish the margin and instead withdrew $18 million in ETH. FTX subsequently closed positions on $820 million worth of assets to avoid a loss of $18 million when the account went bankrupt. 3AC must submit a response by July 11, with a hearing scheduled for August 12.