US court gives Three Arrows nod to increase its FTX claim to $1.53B

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Source:“The evidence suggests that the delay in filing the Amended Proof of Claim was, in large part, caused by the Debtors themselves,” Dorsey said.“The evidence also suggests that the Liquidators were diligent in attempting to obtain the information and that despite having the complete information in their possession, the Debtors repeatedly delayed giving it to them.”3AC liquidators initially filed a $120 million claim in FTX’s bankruptcy case in June 2023.

A US bankruptcy court has authorized liquidators of defunct crypto hedge fund Three Arrows Capital (3AC) to increase their claim against collapsed crypto exchange FTX from $120 million to $1.53 billion.

In November last year, it filed a trio of lawsuits, one against SkyBridge Capital and its founder, Anthony Scaramucci, to recoup funds spent by former FTX CEO Sam “SBF” Bankman-Fried on sponsorship and investment deals. Another suit was filed against crypto exchange Binance and its former CEO, Changpeng Zhao, to recover $1.76 billion worth of cryptocurrency sent to the exchange as part of a July 2021 repurchase deal.

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Author / Journalist: Cointelegraph by Stephen Katte

Category: Crypto

Markets: United States

Topics: Billion Claim Hedge Filed Three Increase Arrows Liquidators Court Bankruptcy Crypto

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-14 @ 06:17:09 (22 hours ago)

News Timezone: GMT -5:00

News Source URL: cointelegraph.com

Language: English

Article Length: 575 words

Reading Time: 4 minutes read

Sentences: 19 lines

Sentence Length: 31 words per sentence (average)

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Copyright Owner: © Coin Telegraph

News ID: 26989865

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