{"id":33309,"date":"2025-06-24T02:31:46","date_gmt":"2025-06-24T02:31:46","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=33309"},"modified":"2025-06-24T02:31:46","modified_gmt":"2025-06-24T02:31:46","slug":"ftx-pushes-back-on-three-arrows-capitals-1-53-billion-claim","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=33309","title":{"rendered":"FTX Pushes Back on Three Arrows Capital\u2019s $1.53 Billion Claim"},"content":{"rendered":"<div>\n<p><span data-preserver-spaces=\"true\">The team winding down FTX\u2019s bankruptcy is firing back at a massive claim filed by collapsed hedge fund Three Arrows Capital, better known as 3AC. The $1.53 billion claim, according to FTX\u2019s legal filing, is not only exaggerated but also based on flawed assumptions and poor risk management by 3AC itself. In court documents, FTX argues that 3AC\u2019s $1.5B claim ignores key facts about margin breaches and fund withdrawals.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">At the heart of the dispute is a series of leveraged trades placed by 3AC on the FTX platform before both companies went under. FTX says 3AC ignored margin calls, withdrew funds instead of posting collateral, and ultimately forced FTX to liquidate their positions. Now, 3AC\u2019s liquidators want the court to believe that FTX owes them more than a billion dollars.<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">What Really Happened With the 3AC Account<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">Back in<\/span><span data-preserver-spaces=\"true\"> 2022, 3AC held a <\/span><span data-preserver-spaces=\"true\">sizeable<\/span><span data-preserver-spaces=\"true\"> margin trading account on FTX.<\/span><span data-preserver-spaces=\"true\"> This was around the time the broader crypto market was reeling from the collapse of Terra and a general loss of confidence. 3AC had borrowed funds and placed large bets on the platform. When the market turned and the value of those positions dropped, FTX says it sent out alerts warning that the account had fallen below margin requirements.<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.1.0\/72x72\/2696.png\" alt=\"\u2696\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\"> Lawyers for the <a href=\"https:\/\/twitter.com\/hashtag\/FTX?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#FTX<\/a> bankruptcy estate have objected to a $1.53B claim from collapsed trading firm Three Arrows Capital, arguing that <a href=\"https:\/\/twitter.com\/hashtag\/3AC?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">#3AC<\/a>\u2019s own actions led to its losses.<\/p>\n<p>FTX claims that 3AC\u2019s extensive spot and margin trading\u2014partially funded by a $120M credit line from\u2026 <a href=\"https:\/\/t.co\/DjDZy82stw\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/DjDZy82stw<\/a><\/p>\n<p>\u2014 Mpost Media Group (@mpost_io) <a href=\"https:\/\/twitter.com\/mpost_io\/status\/1937073142943350992?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">June 23, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p><span data-preserver-spaces=\"true\">According to court filings, 3AC <\/span><span data-preserver-spaces=\"true\">went<\/span><span data-preserver-spaces=\"true\"> silent for over six hours <\/span><span data-preserver-spaces=\"true\">and instead pulled<\/span><span data-preserver-spaces=\"true\"> $18 million in Ethereum from the account.<\/span><span data-preserver-spaces=\"true\"> FTX then liquidated the positions, claiming the move was not only allowed under the terms of the agreement but necessary to avoid deeper losses. After the liquidation, the account still held $82 million, and FTX argues that letting the position ride longer would have led to a negative balance.<\/span><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-1000x-crypto\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">Next 1000X Crypto: 10+ Crypto Tokens That Can Hit 1000x in 2025<\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">Why FTX Believes the Claim Is Inflated<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">FTX\u2019s legal team is asking the Delaware bankruptcy court to reject the full claim. They argue that 3AC is trying to rewrite history by blaming FTX for its own poor decisions. In their view, the hedge fund\u2019s massive exposure, late response, and untimely withdrawal of funds created a hole in the account. FTX had no choice but to close it.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">To strengthen its case, FTX <\/span><span data-preserver-spaces=\"true\">brought in<\/span><span data-preserver-spaces=\"true\"> a consultant from Alvarez &amp; Marsal, who reconstructed the trading data and <\/span><span data-preserver-spaces=\"true\">found<\/span><span data-preserver-spaces=\"true\"> that the liquidation was justified.<\/span><span data-preserver-spaces=\"true\"> A legal expert in British Virgin Islands law, where 3AC was incorporated, also weighed in. They said the legal theory behind 3AC\u2019s claim did not hold up.<\/span><\/p>\n<div class=\"cpp-crypto-chart cpp-crypto-chart-99btc cpp-crypto-chart-btc\" data-coin-symbol=\"btc\" data-price-usd=\"BTC Price (USD)\" data-main-color=\"#4caf05\" data-watermark-image=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/06\/99bitcoins-logo.png\" data-chart-style=\"99btc\">\n<div class=\"cpp-chart-top-section\">\n<div class=\"cpp-chart-info-section\">\n<div class=\"cpp-chart-logo\"><img decoding=\"async\" src=\"https:\/\/cimg.co\/wp-content\/uploads\/2024\/02\/26205235\/btc.svg\" alt=\"btc logo\"><\/div>\n<div class=\"cpp-chart-coin-details\">\n<div class=\"cpp-chart-labels-row\">\n<div class=\"cpp-chart-coin-name\">Bitcoin<\/div>\n<div class=\"cpp-chart-price-info\">Price<\/div>\n<div class=\"cpp-chart-market-cap\">Market Cap<\/div>\n<\/div>\n<div class=\"cpp-chart-values-row\">\n<div class=\"cpp-chart-coin-symbol\">BTC<\/div>\n<div class=\"cpp-chart-price\"><\/div>\n<div class=\"cpp-chart-market-cap-value\">$2.09T<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"cpp-chart-selectors cpp-chart-selectors-99btc\"><span class=\"cpp-chart-selector\" data-period=\"24h\">24h<\/span><span class=\"cpp-chart-selector\" data-period=\"7d\">7d<\/span><span class=\"cpp-chart-selector\" data-period=\"30d\">30d<\/span><span class=\"cpp-chart-selector\" data-period=\"1y\">1y<\/span><span class=\"cpp-chart-selector\" data-period=\"all_time\">All time<\/span><\/div>\n<\/div>\n<p><canvas id=\"cpp-chart-685a0b9064d99\" class=\"cpp-chart-container cpp-chart-container-99btc\"><\/canvas><\/div>\n<p><span data-preserver-spaces=\"true\">The numbers also don\u2019t quite add up. <\/span><span data-preserver-spaces=\"true\">FTX <\/span><span data-preserver-spaces=\"true\">says<\/span><span data-preserver-spaces=\"true\"> the crypto balance in 3AC\u2019s account was <\/span><span data-preserver-spaces=\"true\">around<\/span><span data-preserver-spaces=\"true\"> $1.02 billion<\/span><span data-preserver-spaces=\"true\">, but<\/span><span data-preserver-spaces=\"true\"> after <\/span><span data-preserver-spaces=\"true\">subtracting<\/span><span data-preserver-spaces=\"true\"> liabilities, withdrawals, and the value lost during the market crash, the final balance was <\/span><span data-preserver-spaces=\"true\">much<\/span><span data-preserver-spaces=\"true\"> smaller.<\/span> <span data-preserver-spaces=\"true\">FTX argues that 3AC\u2019s claim<\/span><span data-preserver-spaces=\"true\"> of being owed $1.53 billion <\/span><span data-preserver-spaces=\"true\">simply<\/span><span data-preserver-spaces=\"true\"> does not reflect <\/span><span data-preserver-spaces=\"true\">what happened<\/span><span data-preserver-spaces=\"true\">.<\/span><\/p>\n<p><strong>DISCOVER: <a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\">20+ Next Crypto to Explode in 2025<\/a><\/strong><\/p>\n<h2><span data-preserver-spaces=\"true\">What Comes Next in the Case<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">3AC\u2019s team has until July 11 to formally respond to the objection. <\/span><span class=\"yoast-text-mark\" data-p=\"\">=\u201d\u201d&gt;reserver-spaces=\u201dtrue\u201d&gt;&gt;A court hearing has been scheduled for August 12 in Delaware, where a judge will <\/span><span data-preserver-spaces=\"true\">decide<\/span><span data-preserver-spaces=\"true\"> how much, if any, of 3AC\u2019s $1.5B claim can <\/span><span data-preserver-spaces=\"true\">move forward<\/span>a-preserver-spaces=\u201dtrue\u201d&gt;.<\/p>\n<figure id=\"attachment_251865\" aria-describedby=\"caption-attachment-251865\" style=\"width: 1000px\" class=\"wp-caption aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" class=\"wp-image-251865 size-full\" src=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/06\/FTX-Pushes-Back-on-Three-Arrows-Capitals-1.53-Billion-Claim.jpg\" alt=\"FTX Pushes Back on Three Arrows Capital\u2019s $1.53 Billion Claim\" width=\"1000\" height=\"563\" srcset=\"https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/06\/FTX-Pushes-Back-on-Three-Arrows-Capitals-1.53-Billion-Claim.jpg 1000w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/06\/FTX-Pushes-Back-on-Three-Arrows-Capitals-1.53-Billion-Claim-300x169.jpg 300w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/06\/FTX-Pushes-Back-on-Three-Arrows-Capitals-1.53-Billion-Claim-768x432.jpg 768w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/06\/FTX-Pushes-Back-on-Three-Arrows-Capitals-1.53-Billion-Claim-50x28.jpg 50w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/06\/FTX-Pushes-Back-on-Three-Arrows-Capitals-1.53-Billion-Claim-308x173.jpg 308w, https:\/\/99bitcoins.com\/wp-content\/uploads\/2025\/06\/FTX-Pushes-Back-on-Three-Arrows-Capitals-1.53-Billion-Claim-350x197.jpg 350w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-251865\" class=\"wp-caption-text\">Source: Shutterstock<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">FTX\u2019s bankruptcy process still ties up billions, and many creditors await clarity. This case could influence how quickly and fairly <\/span><span data-preserver-spaces=\"true\">remaining<\/span><span data-preserver-spaces=\"true\"> funds are distributed. It also raises questions about how claims between failed crypto firms should be handled when both sides <\/span><span data-preserver-spaces=\"true\">made<\/span><span data-preserver-spaces=\"true\"> serious mistakes. 3AC\u2019s $1.5B claim might reshape how collapsed crypto firms handle creditor disputes.<\/span><\/p>\n<p><strong><span data-preserver-spaces=\"true\">DISCOVER: <\/span><a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/next-crypto-to-explode\/\" target=\"_blank\" rel=\"nofollow noopener sponsored\"><span data-preserver-spaces=\"true\">20+ Next Crypto to Explode in 2025\u00a0<\/span><\/a><\/strong><\/p>\n<p><strong><a class=\"general-link\" href=\"https:\/\/discord.gg\/B7Uk6agkqj\" target=\"_blank\" rel=\"nofollow noopener nofollow\"><span data-preserver-spaces=\"true\">Join The 99Bitcoins News Discord Here For The Latest Market Updates<\/span><\/a><\/strong><\/p>\n<p><span data-preserver-spaces=\"true\">    <\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h2 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h2>\n<p><span data-preserver-spaces=\"true\">    <\/p>\n<ul class=\"nnbtc-key-takeaways__list\">\n        <\/ul>\n<p><\/span><\/p>\n<p><span data-preserver-spaces=\"true\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        FTX is challenging a $1.53 billion claim from Three Arrows Capital, calling it inflated and based on flawed assumptions.    <\/li>\n<p>    <\/span><\/p>\n<p><span class=\"yoast-text-mark\" data-preserver-s=\"\">paces=\u201dtrue\u201d&gt;    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        FTX says 3AC failed to meet margin calls, withdrew $18 million in ETH, and forced FTX to liquidate its account to prevent deeper losses.    <\/li>\n<p>    <\/span><\/p>\n<p><span class=\"yoast-text-mark\" data-preserver-s=\"\">paces=\u201dtrue\u201d&gt;    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        A consultant reconstructed trading data showing the l<\/li>\n<p><\/span><\/p>\n<p>iquidation was justified, and a BVI legal expert disputed the basis of 3AC\u2019s claim.    <\/p>\n<p><span class=\"yoast-text-mark\" data-preserver-s=\"\">paces=\u201dtrue\u201d&gt;    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        FTX argues the remaini<\/li>\n<p><\/span><\/p>\n<p>ng account value did not support a claim of over $1 billion after accounting for liabilities and withdrawn assets.    <\/p>\n<p><span data-preserver-spaces=\"true\">    <\/p>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        The court will hear the dispute on August 12, and 3AC must respond to FTX\u2019s objection by July 11.    <\/li>\n<p>    <\/span><\/p>\n<p><span data-preserver-spaces=\"true\"><br \/>\n    <\/span><\/p>\n<p><span data-preserver-spaces=\"true\">    <\/span><\/p>\n<\/div>\n<p>    <\/span><\/p>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/legal\/3acs-1-5b-claim-challenged-by-ftx-in-bankruptcy-dispute\/\">FTX Pushes Back on Three Arrows Capital\u2019s $1.53 Billion Claim<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The team winding down FTX\u2019s bankruptcy is firing back at a massive claim filed by collapsed hedge fund Three Arrows Capital, better known as 3AC. The $1.53 billion claim, according to FTX\u2019s legal filing, is not only exaggerated but also based on flawed assumptions and poor risk management by 3AC itself. In court documents, FTX [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-33309","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/33309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33309"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/33309\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}