Close Menu
  • Latest News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Meme Coins
  • DeFi
  • Tech
    • Blockchain
    • Security and Privacy
  • Web 3
    • Web3 News
    • Gaming
  • Legal
    • Taxes & Regulation
    • Adoption
  • Analysis
  • Learn
    • Education
    • Wallets and Exchanges
  • Tools
    • Market Overview
    • Converter
What's Hot

Bitcoin To Repeat Parabolic Phase From 2017 And 2021? Here’s The Target

July 8, 2025

UAE debunks rumors of crypto-backed Golden Visa for TON investors

July 7, 2025

SUSHI price turns bullish as SushiSwap team teases major reveal

July 7, 2025
Facebook X (Twitter) Instagram
  • Contact
  • Privacy Policy
  • Terms & Conditions
  • Disclosure
Facebook X (Twitter) Instagram
Buy Crypto NewsBuy Crypto News
  • Latest News
    1. Bitcoin
    2. Ethereum
    3. Altcoins
    4. Meme Coins
    5. View All

    Hot FOMO Bull Market for Bitcoin Likely Approaching As BTC Indicator Begins To Inch Upward: PlanB

    July 7, 2025

    U.S. Secret Service Quietly Becomes a Leading Crypto Cop as Digital Fraud Soars: Bloomberg

    July 7, 2025

    Senator Lummis’ New Bill Enables Tax-Exempt Bitcoin Spending — But Thresholds Are Too Low

    July 7, 2025

    BlackRock’s Bitcoin Exchange-Traded Fund (IBIT) Just Two Spots Away From Being Firm’s Top Revenue-Generating ETF: Bloomberg Analyst

    July 7, 2025

    Ethereum Risks Downside If Resistance Holds: $2,700 Level Is Critical

    July 7, 2025

    Ethereum activity shifts: More addresses but less users – What’s going on?

    July 7, 2025

    Ethereum Price Targets $3,000 As Analyst Calls It A ‘Powder Keg’

    July 7, 2025

    Analyst Says Don’t Trade Until This Happens

    July 7, 2025

    Bitcoin To Repeat Parabolic Phase From 2017 And 2021? Here’s The Target

    July 8, 2025

    Coinbase hacker returns with $12.5 mln ETH buy: Will security concerns affect Ethereum?

    July 7, 2025

    XRP Price Prediction: Can It Turn $2 Into a Launchpad for $5?

    July 7, 2025

    SYRUP hits $2.58B TVL milestone – But here’s what’s stopping the rally

    July 7, 2025

    Pepe, BMT, CAKE: Crypto Activity Heats Up

    March 18, 2025

    SHIB Burns Over Half a Billion Tokens, Price Surges Over 7%

    March 17, 2025

    DOGE Sees Massive User Growth: Active Addresses Up 400%

    March 15, 2025

    Shiba Inu (SHIB) Price Analysis: Bullish Hints, Bearish Trend

    March 15, 2025

    Bitcoin To Repeat Parabolic Phase From 2017 And 2021? Here’s The Target

    July 8, 2025

    UAE debunks rumors of crypto-backed Golden Visa for TON investors

    July 7, 2025

    SUSHI price turns bullish as SushiSwap team teases major reveal

    July 7, 2025

    Changpeng Zhao casts doubt on UAE residency offer tied to Toncoin staking

    July 7, 2025
  • DeFi

    SUSHI price turns bullish as SushiSwap team teases major reveal

    July 7, 2025

    Stop obsessing over protocols and fix the front door

    July 7, 2025

    Vitalik Buterin proposes to cap gas usage per Ethereum transaction to boost zkVM compatibility, security

    July 7, 2025

    $2.4B lost in 2025 H1 crypto hacks — exchanges and DeFi hit hardest: report

    July 7, 2025

    AAVE price steady as whales buy, exchange supply plunges

    July 6, 2025
  • Tech
    1. Blockchain
    2. Security and Privacy
    3. View All

    Changpeng Zhao casts doubt on UAE residency offer tied to Toncoin staking

    July 7, 2025

    BlockSec Partners FinTax to Boost Crypto Security and Tax Management

    July 7, 2025

    40+ Fake Firefox Wallet Extensions Are Stealing Your Crypto, Koi Security Warns

    July 7, 2025

    First Abu Dhabi Bank to Issue MENA’s First Digital Bond on ADX

    July 7, 2025

    North Korean Hackers Target Crypto Firms with Novel macOS Malware

    July 3, 2025

    Crypto firms paid $2.7M monthly to North Korean workers

    July 3, 2025

    International Taskforce Dismantles €460m Crypto Fraud Network

    July 1, 2025

    Bybit and North Korean hackers headline $2.1 billion crypto hacks in H1

    June 27, 2025

    Bitcoin To Repeat Parabolic Phase From 2017 And 2021? Here’s The Target

    July 8, 2025

    UAE debunks rumors of crypto-backed Golden Visa for TON investors

    July 7, 2025

    SUSHI price turns bullish as SushiSwap team teases major reveal

    July 7, 2025

    Changpeng Zhao casts doubt on UAE residency offer tied to Toncoin staking

    July 7, 2025
  • Web 3
    1. Web3 News
    2. Gaming
    3. View All

    How HR Technology Is Revolutionizing Workforce Management and Payroll Tools

    July 7, 2025

    Breakthrough In Power Management For Energy Harvesting Applications Industry Trends Gaining Momentum in the Global Battery Management System Market

    July 7, 2025

    What the Proposed Canary PENGU ETF Really Means for Retail Investors

    July 7, 2025

    A New Round of Wealth Storm Is Coming—BTC Miner Equips You to Seize the Next Crypto Boom

    July 7, 2025

    Planetside Dev’s ‘Reaper Actual’, What’s Next for ‘MapleStory Universe’

    July 7, 2025

    FLOKI Advances Blockchain Gaming Ambitions With Valhalla Mainnet Launch and Esports Partnership

    July 6, 2025

    HeLa Space and Onmi Upgrade AR Gaming Experience with Web3 Adventure

    July 6, 2025

    Neural Expands to Solana with AI Game Creation Tools and Multi-Chain Support

    July 5, 2025

    Bitcoin To Repeat Parabolic Phase From 2017 And 2021? Here’s The Target

    July 8, 2025

    UAE debunks rumors of crypto-backed Golden Visa for TON investors

    July 7, 2025

    SUSHI price turns bullish as SushiSwap team teases major reveal

    July 7, 2025

    Changpeng Zhao casts doubt on UAE residency offer tied to Toncoin staking

    July 7, 2025
  • Legal
    1. Taxes & Regulation
    2. Adoption
    3. View All

    Russia launches crypto mining equipment registry to curb illicit activity

    July 7, 2025

    Crypto Czar Says GENIUS Act Is Trump’s Next Win After ‘One Big, Beautiful Bill’

    July 7, 2025

    Hong Kong poised to benefit from Singapore’s ‘crypto crackdown’: report

    July 7, 2025

    Following the Major Tax Law in the US, a Major Cryptocurrency Tax Bill Has Now Been Proposed

    July 7, 2025

    UAE debunks rumors of crypto-backed Golden Visa for TON investors

    July 7, 2025

    Elon Musk’s America Party embraces Bitcoin

    July 7, 2025

    TON offers UAE golden visa for stakers, making residency by crypto a reality

    July 7, 2025

    Asian consortium led by Metaplanet, Sora Ventures targets Thai market with DV8 acquisition

    July 5, 2025

    Bitcoin To Repeat Parabolic Phase From 2017 And 2021? Here’s The Target

    July 8, 2025

    UAE debunks rumors of crypto-backed Golden Visa for TON investors

    July 7, 2025

    SUSHI price turns bullish as SushiSwap team teases major reveal

    July 7, 2025

    Changpeng Zhao casts doubt on UAE residency offer tied to Toncoin staking

    July 7, 2025
  • Analysis

    Analyst Eyes Astronomical Price Target for XRP, Says Investors Not Bullish Enough on Fourth-Largest Crypto Asset

    July 7, 2025

    XRP Price Prediction 2025—What if it Fails to Break the $2.5 Resistance? Will it Fall Below $2 in July?

    July 7, 2025

    Analyst Unveils Crypto Catalysts for ‘Jubilant July,’ Says Altcoins Will Likely ‘Cook’ for Next Few Weeks

    July 6, 2025

    Ripple Price Prediction as XRP ETF Approval Odds Near 100%

    July 6, 2025

    Suspicion surrounds mysterious $8.6 billion Bitcoin move

    July 6, 2025
  • Learn
    1. Education
    2. Wallets and Exchanges
    3. View All

    What Are Internet Capital Markets? Why Companies Are Launching Meme Coins

    June 16, 2025

    What is a Corporate Bitcoin Treasury? The Strategy Behind Companies Holding Crypto

    May 27, 2025

    What Are Tokenized Real-World Assets? Putting Physical Value On-Chain With RWAs

    May 19, 2025

    Users Taunt Grok After xAI Says Modifications Were Made to Spit out ‘White Genocide’ Claim

    May 16, 2025

    More than 40 fake wallet extensions on browsers detected as malware threat

    July 3, 2025

    Mastercard joins forces with Bitget Wallet to release zero-fee crypto cards

    July 2, 2025

    Supreme Court confirms IRS right to access customer data from crypto exchanges without warrant

    July 2, 2025

    Satoshi Nakamoto address receives $20k from mystery wallet

    July 1, 2025

    Bitcoin To Repeat Parabolic Phase From 2017 And 2021? Here’s The Target

    July 8, 2025

    UAE debunks rumors of crypto-backed Golden Visa for TON investors

    July 7, 2025

    SUSHI price turns bullish as SushiSwap team teases major reveal

    July 7, 2025

    Changpeng Zhao casts doubt on UAE residency offer tied to Toncoin staking

    July 7, 2025
  • Tools
    • Market Overview
    • Converter
Buy Crypto NewsBuy Crypto News
Home»Wallets and Exchanges»FTX fights back against 3AC’s ‘unreasonable and unsupportable’ $1.53B claim
Wallets and Exchanges

FTX fights back against 3AC’s ‘unreasonable and unsupportable’ $1.53B claim

June 24, 2025No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

FTX’s Bankruptcy Lawyers Fight Against $1.53 Billion Claim by Three Arrows Capital

FTX’s bankruptcy lawyers are vehemently opposing a $1.53 billion claim filed by failed crypto hedge fund Three Arrows Capital (3AC), labeling the demand as “illogical” and cautioning that it would unjustly deplete funds from FTX’s rightful creditors.

In a recent court filing on June 20, FTX’s legal team urged a Delaware bankruptcy judge to dismiss 3AC’s entire claim, contending that the trading firm’s alleged losses were a result of their own risk-taking and failure to meet margin calls, rather than any wrongdoing on the part of FTX.

Margin Trade Breach

The dispute revolves around margin trades that 3AC executed on FTX’s exchange in 2022. At that time, 3AC, which had borrowed extensively across the crypto sector, utilized a $120 million credit line from FTX to finance substantial positions.

FTX asserts that in June 2022, 3AC breached margin requirements following the collapse of the TerraUSD stablecoin, which triggered a broader market crisis. When FTX notified 3AC that their account had fallen below the required collateral thresholds, the firm allegedly did not respond for over six hours and instead withdrew $18 million worth of Ethereum (ETH), exacerbating the shortfall.

Facing what they described as a critical credit breach, FTX liquidated 3AC’s account, recuperating $82 million. FTX’s legal team argues that this liquidation was not only permitted by the contract but also averted a more substantial deficit in the estate’s financials.

Dismissing 3AC’s Claim

FTX’s legal team criticized 3AC for basing their claim on an “unreasonable and unsupported premise” in order to inflate their initial $120 million claim by over 10 times. They presented testimony from Steven P. Coverick, a managing director at Alvarez & Marsal, who analyzed the trades and concluded that the forced sale was warranted to prevent further losses.

See also  The Prime Liquidity Engine Powering Crypto CFD Markets Worldwide​

Additionally, the estate submitted an expert opinion from Stephen Atherton, King’s Counsel from the British Virgin Islands, debunking 3AC’s legal theory under BVI law as flawed.

The lawyers argued that 3AC’s attempt to reclaim billions is an effort to salvage their failed liquidation process and shift blame onto FTX’s remaining creditors who are still awaiting repayment following the exchange’s collapse in November 2022.

Future Legal Proceedings

The ongoing legal battle is just one facet of the complex web of claims and counterclaims stemming from the downfall of both crypto firms. 3AC is required to file their formal response by July 11, with a non-evidentiary hearing scheduled for August 12 in Delaware. As of now, lawyers for 3AC have not responded to requests for comment.

In conclusion, the clash between FTX and 3AC underscores the intricate legal intricacies and financial stakes involved in the aftermath of these high-profile collapses within the crypto industry.

1.53B 3ACs Claim fights FTX unreasonable unsupportable
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

FTX Seeks Court Approval for Restricted Jurisdiction Claims as 82% of Value Comes from Chinese Users

July 5, 2025

FTX Recovery Trust freezes payouts to 49 countries pending legal clearance, China faces biggest hit

July 4, 2025

More than 40 fake wallet extensions on browsers detected as malware threat

July 3, 2025

Mastercard joins forces with Bitget Wallet to release zero-fee crypto cards

July 2, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Shiba Inu Hints at Price Reversal After a 284% Spike in SHIB Burns

January 31, 2025

Frax Finance community debates $15 million investment in Trump’s World Liberty Financial

January 23, 2025

Ethereum whales hold tight: Can Pectra be ETH’s ticket to $2,000?

May 6, 2025
Price Chart


Explore insights on crypto, blockchain, taxes, and security. Stay informed with expert guides, tips, and the latest trends to navigate the digital asset world confidently


We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Bitcoin To Repeat Parabolic Phase From 2017 And 2021? Here’s The Target

July 8, 2025

UAE debunks rumors of crypto-backed Golden Visa for TON investors

July 7, 2025

SUSHI price turns bullish as SushiSwap team teases major reveal

July 7, 2025
Get Informed

Subscribe to Updates

Get the latest creative news From BuyCryptoNews directly in your Inbox!

  • Contact
  • Privacy Policy
  • Terms & Conditions
  • Disclosure
© 2025 BuyCryptoNews - All rights reserved.

Type above and press Enter to search. Press Esc to cancel.