Three Arrows Capital liquidators seek to revise their claim against FTX from $120 million to $1.53 billion, citing improper liquidation of 3AC assets.
Liquidators of the defunct crypto hedge fund Three Arrows Capital (3AC) are reportedly seeking to amend their claim against FTX, increasing it from $120 million to $1.53 billion.
According to Bloomberg, 3AC’s liquidators allege that two weeks before the hedge fund collapsed, FTX liquidated and seized their assets on the platform to settle a $1.33 billion debt. The hedge fund claims the transactions were “avoidable and unfair” and caused harm to 3AC creditors.
3AC argues the liquidations should be invalidated, accusing FTX of undervaluing the transactions and breaching both trust and contract.
