By Michelle Tan | BitVision.ai
The legal fight between two collapsed crypto giants just escalated.
FTX’s bankruptcy team is asking a U.S. court to toss out a massive $1.53 billion claim filed by Three Arrows Capital (3AC).
Their message?
“This defies logic.”
📉 The Background
3AC collapsed in 2022 after losing billions in risky trades.
In 2023, its liquidators filed a $120 million claim against FTX.
They later amended the claim to $1.53 billion, saying FTX wrongly liquidated 3AC’s assets.
FTX says the numbers don’t add up.
📑 What FTX Is Saying
In a 94-page court filing, FTX lawyers argue:
- 3AC’s losses were from the market, not FTX.
- 3AC made its withdrawals, reducing the account value.
- FTX only liquidated assets to cover margin—a standard move.
FTX believes 3AC is trying to rewrite history and shift the blame.
⚖️ The Court’s Role
In March, the Delaware bankruptcy court approved 3AC’s amended claim despite FTX’s objections.
The judge ruled that poor recordkeeping by FTX had delayed 3AC’s access to critical account data.
Full details can be found on CoinDesk’s report.
FTX wants the court to reverse course and strike the claim entirely.
The next hearing is scheduled for August 12, 2025.
🎭 A Bit of Irony
3AC played with billions in borrowed crypto.
It helped trigger the very collapse that exposed FTX.
Now, it wants to cash in from FTX’s estate.
As FTX lawyers said, “This is a house of cards built on hindsight.”
🔥 Related Insight
The FTX–3AC drama comes as many investors are reassessing the line between risk and recklessness.
For a deeper dive into how sharp moves during chaos can lead to strategic wins, check out:
👉 Crypto Bloodbath or Blessing? The Smart Strike Starts Now
🧠 BitVision’s Take
3AC bet big and lost.
FTX had problems—but it didn’t cause 3AC’s meltdown.
Trying to claim $1.5 billion now?
That’s a bold move—even for crypto.