Three Arrows Capital Seeks $1.53B from FTX Amid Asset Disputes and Ongoing Lawsuits

The liquidators of the collapsed crypto hedge fund Three Arrows Capital (3AC) are seeking to increase their claim against FTX from $120 million to $1.53 billion.

The claim centers around FTX’s liquidation of 3AC’s assets to settle a $1.33 billion debt just weeks before the hedge fund’s collapse. 3AC argues the liquidation was unfair, with undervalued transactions and delays in providing key information.

FTX has countered, suggesting an unidentified 3AC individual initiated the liquidation. A court hearing on November 20 will address the motion.

Beyond FTX, 3AC’s liquidators are also pursuing a $1.3 billion claim against Terraform Labs for allegedly misleading 3AC about the stability of its assets, including the failed TerraUSD (UST) and Luna (LUNA).

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FTX, in the meantime, is intensifying recovery efforts, filing lawsuits against SkyBridge Capital, Binance, and Waves founder Aleksandr Ivanov to reclaim funds related to its bankruptcy.

Kostadin Dimitrov