The team which finished the bankruptcy of the FTX withdraws from a massive complaint filed by the hedge fund collapsed three Capital arrows, better known as 3ac. The demand of $ 1.53 billion, according to the legal file of the FTX, is not only exaggerated but also based on erroneous assumptions and mismanagement of risk by 3ac itself. In court documents, FTX arises that the 3CAC dollars’ $ 1.5 billion complaint ignores key facts on margin violations and fundraising.
At the heart of the dispute is a series of leverage trades placed by 3ac on the FTX platform before the two companies are under virtue. FTX says that 3ac ignored the margin calls, removed the funds instead of publishing guarantees and finally forced the FTX to liquidate their positions. Now, 3ac liquidators want the court to believe that FTX owes them more than a billion dollars.
What really happened with the 3AC account
Go back up 2022, 3ac held a importantly Marge trading account on FTX. It was roughly when the wider market of cryptography was in shock from the collapse of terra and a general loss of confidence. 3ac had borrowed funds and placed large Paris on the platform. When the market has shot and the value of these positions has dropped, the FTX says that it sent alerts warning that the account had fallen below margin requirements.
Lawyers for #FTX The bankruptcy succession opposed a complaint of $ 1.53 billion in the negotiation company collapsed Three Arrows Capital, arguing that # 3acThe own actions have led to its losses.
FTX claims that large trading and 3AC margin trading – funded by a credit line of $ 120 million… pic.twitter.com/djdzy82stw
– Mpost Media Group (@mpost_io) June 23, 2025
Lawyers for According to court documents, 3ac went Silent for more than six hours And rather fired $ 18 million from Ethereum of the account. The FTX then liquidated the positions, claiming that this decision was not only authorized under the terms of the agreement, but also necessary to avoid deeper losses. After the liquidation, the account still held $ 82 million, and FTX argues that leaving the rolling position longer would have led to a negative balance.
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Why FTX thinks that the complaint is swollen
The FTX legal team requests the Delaware bankruptcy court to reject the complete complaint. They argue that 3ac try to rewrite history by blaming FTX for its own bad decisions. In their opinion, the massive exposure of the hedge fund, the late response and the premature withdrawal of the funds created a hole in the account. FTX had no choice but to close it.
To strengthen its case, FTX brought A consultant from Alvarez & Marsal, who has rebuilt commercial data and find that the liquidation was justified. A legal expert in law of the British virgin islands, where 3ac was incorporated, has also weighed. They declared that the legal theory behind the 3AC complaint did not resonate.
The figures do not add up either. Ftx said The balance of the crypto in the 3AC account was around $ 1.02 billionbut After subtraction responsibilities, withdrawals and lost value during the market crash, the final balance was a lot smaller. FTX arises that the 3AC complaint to be due to $ 1.53 billion simply does not reflect what happened.
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What then comes in the case
The 3AC team has until July 11 to officially respond to the objection. = “”> Reserve-space = “True” >> A court hearing is scheduled for August 12 in Delaware, where a judge decide How, if necessary, of the 3CAC dollars’ $ 1.5 billion complaint can move forwardA-PRERVER Spaces = “True”>.
FTX’s bankruptcy process still links billions, and many creditors are waiting for clarity. This case could influence the speed and speed remaining The funds are distributed. He also raises questions about how affirmations between failing cryptographic companies should be dealt with when the two parties do serious errors. The $ 1.5 billion complaint in 3ac could reshape the way in which the collapsed cryptographic companies manage the disputes of the creditors.
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Main to remember
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The FTX calls into question a complaint of $ 1.53 billion of three capital arrows, calling it inflated and based on erroneous assumptions.
- FTX claims that 3ac failed to answer margin calls, withdrawn $ 18 million from Eth and forced the FTX to liquidate its account to avoid deeper losses.
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A consultant has rebuilt trading data showing the L
The iquidation was justified and a legal expert from BVI challenged the basis of the 3AC complaint.
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FTX supports the rest
The value of the NG account did not support a complaint of more than a billion dollars after counting the passives and withdrawn the assets.
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The court will hear the dispute on August 12 and 3ac must respond to FTX’s objection by July 11.
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