FTX Lawyers Want $1.53 Billion 3AC Claim Tossed

Lawyers acting on the collapsed FTX crypt exchange have rebuked from Three Arrows Capitator the decline of $ 1.53 billion, and losses were caused by a risk business strategy for which creditors should not pay.

The 3AC liquidators originally claimed $ 120 million in the case of FTX bankruptcy in June 2023 and In November 2024 it expanded it to $ 1.53 billionwhich claims claims, including breach of the contract, trust and unfair enrichment.

The liquidators reportedly held the FTX of $ 1.53 billion in The asset of the locking fund This was disposed of to settle the obligations in 2022, which contributed to collapse 3AC, claims that transactions have been prevented and FTX debtors delayed information that would reveal liquidation.

The main judge John Dorsey agreed and Shift in March granted.

FTX says the claims are illogical and unfounded

In the objection filed on Friday at the US bankruptcy court for the District of Delaware, FTX lawyers said that the claims are “illogical and unfounded”.

They argued that 3AC “Bet Big” that crypto prices would increase, and when they fell instead, the company became victims of its “own risk strategies”.

“Common liquidators are asking this court to force additional exchange customers and creditors to make an unsuccessful 3AC account by claiming illogical and unfounded claims worth $ 1.53 billion,” FTX lawyers said.

There is also a dispute over the account balance and as 3AC arrived at $ 1.53 billion. FTX lawyers say that relied on inaccurate account balances Since June 12, 2022, when the company’s crypto balance was $ 1.02 billion, not $ 1.59 billion, and the negative amount of the US dollar was $ 733 million, not $ 1.3 billion.

The theory of the lost assets that FTX has been at the core of the argument 3AC is based on a crypt of balance 12 June 2022 and asks to “recover virtually all” balance lost in the coming days.

“But this is a false assumption that lacks any legal or factual merit, and in fact 3AC does not owe anything,” the lawyers said.

FTX claims that 3AC had only a balance of $ 284 million available, which was further split off The crypto market price is falling and withdrawals of 3AC of $ 60 million.

FTX says the liquidation was only for $ 82 million

In the FTX lawyers saying that the only liquidation against 3AC was $ 82 million per Crypto, which was “contractually allowed” on the basis of loan and margin agreements to ensure that the company is meeting the account account.

The objection is also said that the liquidation did not reduce the total account balance because the value was added to the Fiat 3AC account in USD.