Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Three Arrows Capital seeks to increase its claim amount against FTX to $1.53 billion

Three Arrows Capital seeks to increase its claim amount against FTX to $1.53 billion

Bitget2024/11/14 08:59

On November 14, the liquidator of the now-defunct crypto hedge fund Three Arrows Capital is attempting to amend its claim against FTX, increasing its claim amount from $120 million to $1.53 billion. The liquidator for Three Arrows Capital alleges that two weeks before the hedge fund's collapse, FTX liquidated and seized their assets on the platform to settle a debt of $1.33 billion. The hedge fund claims these transactions were "avoidable and unfair," causing harm to creditors of Three Arrows Capital. They believe that the liquidation should be invalidated, accusing FTX of undervaluing trades and breaching trust and contract.

Three Arrows Capital also alleges that FTX delayed providing necessary information, forcing them to parse raw data in order to calculate losses. As such, they could only confirm the amount for liquidation in August. However, FTX responded by saying an unnamed individual associated with Three Arrows Capital initiated asset liquidation; it has yet not confirmed this person's identity. A court hearing will take place on November 20th discussing motions by Three Arrow Capitals' amendment claims.

1

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!