FTX Fights Back: Bankrupt Exchange Challenges 3AC’s $1.5B Claim in High-Stakes Clash

FTX draws a line in the sand against defunct hedge fund Three Arrows Capital.

The collapsed crypto exchange is pushing back hard against 3AC's $1.5 billion claim—what could be the final showdown between two of crypto's most spectacular failures.

Who gets the last laugh? Probably the lawyers.

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The filing also reveals that nearly all assets in the account vanished within days—$222 million lost to the market crash and $60 million withdrawn by 3AC. Only one position worth $82 million was force-liquidated, which FTX says was in line with platform rules to avoid a negative balance.

In its statement, FTX argues that creditors should not be responsible for covering 3AC’s overleveraged bets. If the court agrees, 3AC could lose the bulk of its claim or be downgraded to a general creditor status, greatly reducing its potential payout.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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