Altcoins News
By Dan Saada
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FTX: 3AC Knew the Risks and Lost. In its filing, FTX accuses 3AC of making highly speculative, leveraged bets during one of the most…
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The Liquidation Was Contractual — and May Have Helped. Another key point in FTX’s defense is the nature of the liquidation itself.
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Legal Battle Far From Over. 3AC now has until July 11 to formally respond to FTX’s objection, with the next court hearing…
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A Cautionary Tale of Crypto Excess. This courtroom drama underscores just how chaotic and interconnected the 2022 crypto collapse…
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Final Thoughts. As the crypto industry works to rebuild its credibility, the FTX vs.
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The legal fallout from the 2022 crypto crash is far from over, as FTX and Three Arrows Capital (3AC)—two of the industry’s most infamous casualties—are now locked in a…
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Filed in a Delaware bankruptcy court, FTX’s objection outlines a detailed rebuttal, arguing that 3AC’s numbers don’t add up—and that the troubled hedge fund is responsible for…
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Specifically, 3AC’s claim is based on the state of its FTX account as of June 12, 2022, when it alleges that FTX held and later liquidated $1.53 billion worth of assets.
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After accounting for market declines and existing liabilities, FTX argues that only $284 million in net value remained, casting serious doubt on the validity of 3AC’s…
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Another key point in FTX’s defense is the nature of the liquidation itself. The estate states that it only liquidated $82 million of 3AC’s assets and did so under pre-agreed…
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By converting unstable crypto holdings into fiat currency, FTX argues, it actually protected a portion of 3AC’s capital from further loss during the market crash.
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While FTX is aggressively seeking to recover funds through dozens of lawsuits, 3AC is simultaneously pursuing a $1.
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Meanwhile, FTX founder Sam Bankman-Fried, who was convicted of fraud earlier this year, is now serving a 25-year prison sentence, with a scheduled release date in 2044.
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For creditors and former customers, the fight for restitution remains tangled in years of litigation.
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As the crypto industry works to rebuild its credibility, the FTX vs. 3AC battle serves as a harsh reminder of the dangers of unchecked risk and poor transparency.
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