FTX News: Court Ruling Increases 3AC’s Claim Against FTX to $1.53 Billion, Complicating Creditor Payouts

In a recent development in the ongoing saga of the FTX bankruptcy, a Delaware bankruptcy court has ruled in favor of Three Arrows Capital (3AC), significantly increasing the hedge fund’s claim against the cryptocurrency exchange from $120 million to $1.53 billion. This ruling has introduced new complexities for creditor payouts and raised questions about FTX’s handling of funds.

FTX Bankruptcy Hit by Court Ruling Favoring 3AC’s $1.53 Billion Claim

A Delaware bankruptcy court approved a significant increase in Three Arrows Capital (3AC)’s claim against FTX from $120 million to $1.53 billion. The ruling introduces new complexities for creditor payouts and raises questions about FTX’s handling of funds. The legal dispute involves allegations that FTX liquidated $1.53 billion of 3AC’s assets just two weeks before the hedge fund collapsed in 2022. FTX argued that the liquidation was necessary to settle a $1.3 billion loan obligation, but the court found insufficient evidence to support this claim.

Crypto’s New Era? Kevin O’Leary Champions Trump’s Vision Amid Skepticism

As President Donald Trump stakes his claim on the future of cryptocurrency in America, investors and industry insiders are divided. Kevin O’Leary, chairman of O’Leary Ventures and a cryptocurrency advocate, recently praised Trump’s stance on digital assets, arguing that his administration marks a “new phase” for the crypto industry. O’Leary noted that the so-called “cowboy era of crypto” characterized by fraud cases and regulatory uncertainty is over. Notably, O’Leary was affected by the FTX fraud case, losing a significant amount of money as an investor and spokesperson for the exchange.