FTX Lawyers Want $1.53 Billion 3AC Claim Tossed
FTX lawyers have rejected a $1.53 billion recovery claim from Three Arrows Capital (3AC) liquidators, arguing the losses stem from 3AC's risky trading strategy. Initially, 3AC filed a $120 million claim in June 2023, later expanding it to $1.53 billion in November 2024, alleging breach of contract and unjust enrichment. FTX claims the allegations are illogical, asserting that 3AC's losses were due to its own decisions as crypto prices fell. FTX disputes the accuracy of 3AC's account balances, stating the actual balance was $284 million, not the claimed $1.59 billion. FTX maintains that only $82 million was liquidated under contract terms to comply with account requirements, which ultimately preserved 3AC's account value. A hearing is scheduled for August 12, with 3AC required to respond by July 11.
