US Judge Approves Monumental Claim Increase for Three Arrows Capital in FTX Bankruptcy Case
by aria-crypto.com
March 15, 2025 at 11:57
US Judge Approves Monumental Claim Increase for Three Arrows Capital in FTX Bankruptcy Case
A US judge has approved a significant expansion of Three Arrows Capital's (3AC) claim against the now-bankrupt cryptocurrency exchange FTX, elevating the claim to $1.53 billion. This decision marks a substantial increase from the initial $120 million claim filed by 3AC. The court documents reveal that FTX, which declared bankruptcy in 2022, liquidated approximately $1.53 billion of 3AC's assets on its platform shortly before 3AC itself collapsed. The liquidation occurred over two days, from June 12 to June 14, 2022, as 3AC struggled with a negative USD balance of around $1.3 billion. This liquidation was reportedly executed to cover the liabilities 3AC owed FTX. The collapse of the Terra (LUNA) ecosystem in 2022, which erased $40 billion from the market, severely impacted 3AC, leading to its inability to meet margin calls and a subsequent default notice from Voyager Digital on a $665 million debt. The bankruptcy of FTX followed the Terra collapse, with its CEO Sam Bankman-Fried later convicted for defrauding investors and mismanaging billions in customer funds.
Read more
>> US Bitcoin ETFs Grapple with Extended Outflows in 2025 Amidst Trade Tensions
US Bitcoin exchange-traded funds (ETFs) have been witnessing substantial outflows, totaling over $5.5 billion in the past five weeks. This marks the longest spell of withdrawals since their inception in January...
a few seconds ago
>> Brazil Advances in Crypto: Proposed Legislation to Allow Bitcoin Salary Payments
Brazil is poised to make cryptocurrency waves as legislation is proposed to include Bitcoin in salary payment options. Drafted by Federal Deputy Luiz Philippe de Orleans e Bragança, the bill suggests that emplo...
4 hours ago
>> Solana Futures Take Off: FalconX and StoneX Spearhead CME's Latest Crypto Venture
FalconX, a digital asset prime broker, has successfully executed the first-ever block trade of CME Group's Solana futures, with StoneX serving as the counterparty. This landmark transaction occurred just one da...
4 hours ago
>> Kentucky Lawmakers Endorse Innovative Bitcoin Legislation
Kentucky lawmakers have passed HB 701, a pioneering bill that protects and promotes self-custody and mining of Bitcoin in the state. Introduced by Representatives Adam Bowling and T.J. Roberts, the bill receive...
5 hours ago
>> EU Investigates OKX Amid Allegations of Bybit Hack Fund Laundering
Amid rising scrutiny, OKX, a prominent crypto exchange, has suspended its decentralized exchange (DEX) aggregator following allegations it facilitated laundering of $100 million from the Bybit heist. European r...
>> SEC and Ripple Near Settlement, Eyeing Commodity Status for XRP Amid Legal Challenges
The legal skirmish between Ripple and the U.S. Securities and Exchange Commission (SEC) appears to be concluding, with indications that XRP may soon be regarded more seriously as a commodity. Inside sources sug...
7 hours ago
>> US Police on the Hunt for 'Bitcoin Billionaire' Suspected in Bond Fraud
In a notable development, US police have announced a search for an individual dubbed the 'Bitcoin Billionaire', connected with a fraudulent scheme involving $50,000 in bond transactions. The suspect's manipulat...
a day ago
>> UK Bitcoin Scandal: Officer Charged with Stealing £3.2 Million Worth of BTC
The UK Crown Persecution Service (CPS) has charged a National Crime Agency (NCA) officer, Paul Chowles, with the theft of 50 Bitcoin, valued roughly at £3.2 million today. The indictment is part of the UK's ong...
a day ago
>> Regulator Warns Against Surging Crypto 'Investment Education' Scams
Fake 'investment education' scams in the cryptocurrency sector are on the rise, as highlighted by the North Dakota Securities Department. These fraudulent foundations lure investors with the promise of teaching...
>> Bitcoin and Ethereum Market Realignments: 21Shares Concludes Operations of ARKC and ARKY ETFs
21Shares has decided to liquidate two of its exchange-traded funds (ETFs) dealing with bitcoin and ether futures, named ARKC and ARKY, in response to a broader market downturn and poor fund performance. The tar...
2 days ago
All the latest crypto news in one place
Stay informed and up-to-date on the market's latest news with our Terminal's News Aggregator with curated news articles and analysis from over 50 sources, including the crypto's biggest publications.
Launch Terminal
