FTX News: Three Arrows Capital Boosts Claim Against FTX to $1.53 Billion

In a significant development in the ongoing saga surrounding embattled cryptocurrency exchange FTX, Three Arrows Capital (3AC) has successfully increased its claim against the exchange to a staggering $1.53 billion. Here’s what you need to know.

Three Arrows Capital Increases Claim Against FTX to $1.53B

Three Arrows Capital (3AC) has received authorization from the U.S. bankruptcy court in Delaware to increase its claim against FTX to $1.53B. The court rejected FTX’s objections, citing the crypto exchange’s failure to share relevant records in a timely manner. FTX co-founding president Michael Bottjer had questioned 3AC’s request to increase the claim from $120M, but 3AC argued that it could not have figured this out sooner due to FTX’s actions.

Kevin O’Leary Optimistic About Crypto’s Future

Celebrity investor Kevin O’Leary, aka Mr. Wonderful, has expressed Optimism about the future of cryptocurrency. In an interview with Fox News, he stressed that crypto is out of the “cowboy era” and has entered a “new phase” under President Trump’s administration. Kevin had a crypto conversation with American politician Lara Trump at the crypto-themed Pubkey bar in New York, which President Trump had previously visited. He noted that the high-profile fraud cases in the industry, including the debacle of FTX crypto exchange, have led to many crypto cowboys being in jail or out of business. However, he believes that crypto will become part of all sectors.