The Delaware bankruptcy court has approved Three Arrows Capital’s (3AC) claim against the FTX estate, increasing it from $120 million to $1.53 billion. This decision marks a significant development in the ongoing legal proceedings following the collapse of FTX. 3AC, once a major crypto hedge fund with over $3 billion in net assets, filed its initial claim in July 2023. The claim was amended in November 2024 after discovering that FTX had liquidated $1.53 billion of 3AC’s assets just two weeks before 3AC’s own liquidation in 2022. FTX argued that this liquidation was to cover a $1.3 billion liability, but the court found insufficient evidence to support this claim. The ruling allows 3AC to pursue a larger share of FTX’s remaining assets, potentially affecting other creditors. FTX began distributing funds to creditors in February 2025 and argued that the timing of 3AC’s expanded claim would complicate its reorganization plan. However, the court justified the delay, citing missing financial records and lack of cooperation from 3AC’s founders.
Cee
@sorealCee
·
Mar 14 BREAKING NEWS:
USA COURT INCREASES CLAIM AGAIST FTX EXCHANGE FROM 120 MILLION to 1.53 BILLION
TradeDucky
@tradeducky
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Mar 14 Three Arrows Capital (3AC) just raised its claims against FTX from $120M to $1.5B, alleging improper asset sales before their mutual collapses. FTX says it’s fighting back, calling the lawsuit overdue. The crypto drama continues
Crypto Beat (,)
@0xCryptoBeat
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Mar 14 BREAKING NEWS 破 : U.S. court allows 3AC to raise its claim against FTX to $1.53B, potentially disrupting FTX’s reorganization plan
Arush (FTX Creditor)
@arush
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Mar 14 Thanks for posting. I read through the order.
– how can the 1.59B claim be allowed and the negative 1.3B position be ignored? The claim should net against their negative position
– Is this the first time ever Judge Dorsey has taken a position against the debtors? More likely
Sunil (FTX Creditor Champion)
@sunil_trades
·
Dec 29, 2024 FTX Repayments
False: Distribution does not start 3rd Jan and $16bn within 60 days
Approx No.
FTX Cash: $13bn now/ $14bn Mar
VC port, lawsuits: $5bn – $7bn
FTX Disputed claims reserve (50%): $7bn
– Not distributed initially
Mar 25: $7bn cash Distributed
Then disputed
Crypto Rover
@rovercrc
·
Feb 18 BREAKING:
FTX claims under $50K are receiving funds NOW!
This group of creditors holds around $1.2B in value.
THIS MONEY IS FLOWING INTO BITCOIN & ALTCOINS!
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