FTX Rejects 3AC’s $1.53 Billion Claim in Bankruptcy Court
FTX’s legal team rejects Three Arrows Capital’s substantial claim in Delaware court proceedings, indicating potential implications for future crypto bankruptcies.
- FTX lawyers contest 3AC claim, citing inflated numbers.
- FTX disputes 3AC net account value of $284 million.
- Reply deadline for 3AC set for July 11.
FTX‘s legal team has rejected Three Arrows Capital’s (3AC) $1.53 billion claim during proceedings in Delaware bankruptcy court on June 20, 2025.
This event holds significance as it represents a critical dispute in the resolution of crypto-related bankruptcies, potentially shaping future claimant expectations.
FTX has formally objected to the $1.53 billion claim by Three Arrows Capital, arguing substantial overvaluation. According to 99Bitcoins, FTX asserts the actual value was $284 million, accounting for $733 million in margin debt.
The involved parties include FTX’s bankruptcy estate and 3AC’s liquidators, evolving from previous claims. FTX highlights an $82 million triggered liquidation to preempt extra losses, which it claims was contractually justified.
“The alleged losses resulted from 3AC’s risky trading, not platform malpractice.” – FTX Legal Counsel, Official Statement
The disputed assets consisted mainly of prominent cryptocurrencies like BTC and ETH. Court actions could impact cryptocurrency handling in bankruptcy cases, with creditors closely analyzing ensuing decisions.
Technological and financial ramifications might include altered regulations on crypto asset valuation during liquidation. Real-time updates from Coin Central suggest historical trends indicate potential outcomes focusing on asset documentation and margin calls. The situation suggests future disputes may require precise documentation to validate claims and creditor recovery expectations.
