Bankrupt Crypto Exchange FTX said that he should not have to pay a massive recovery complaint of $ 1.53 billion by three capital arrows, arguing in a recent court depositing that the crypto hedge fund of Crypto Hedge Fund [trading] The strategy caused its collapse and its own account activity – not any action by [FTX] – led to a significant drop in the “value” associated with the 3AC accounts in June 2022. “
“3ac has bet that cryptocurrencies prices would increase using species that he had not and, when prices have dropped rather, 3ac proceeded to liquidate the risky bets he had placed and remove assets of assets [FTX]”Wrote the lawyers of the FTX in the file.
The Delaware court supervising the bankruptcy of the FTX gave 3ac liquidators the authorization to expand its complaint earlier this year, which resumes it considerably from their initial claim of $ 120 million. This came after 3ac lawyers would have discovered new evidence suggesting that FTX had liquidated $ 1.53 billion in 3AC assets two weeks before the coverage fund begins its own liquidation assets in June 2022. Or otherwise supported. The bankruptcy court has stored on the side of 3ac, finding insufficient evidence to support FTX’s loan request.
In the latest deposit, the lawyers for the FTX succession said that on June 12, 2022, the actual value of assets in 3AC accounts was only $ 284 million – $ 1.017 billion in digital assets and $ 733 million negative dollars. They also added that the “first and unique” liquidation of 3AC assets commanded by FTX was June 14, 2022 and exchanged 82 million dollars in crypto for money – a decision that they argued “in fact acting in reality 3AC (not FTX)”.
“Complete liquidators brutally inflate the actual value of $ 284 million in assets associated with 3AC accounts on June 12, 2022 more than $ 1.2 billion, and they do not know that the total loss of account value results from the drop in market prices and 3CA (and not from the FTX,” said lawyers.
“The joint liquidators ask this court to force other customers and creditors in exchange to pay the invoice of the failed 3AC strategy by affirming the illogical and baseless complaints for $ 1.53 billion …
[T]It is a false premise which has no legal or factual merit, and, in fact, 3ac owes nothing, “added the lawyers.
The FTX, which was at some point one of the greatest exchanges of cryptography in the world, filed a bankruptcy bankruptcy shortly after its collapse in November 2022. The resumption of the scholarship began to distribute $ 5 billion to the FTX creditors in May.
3AC collapsed in June 2022, a month after the collapse of the terra / luna ecosystem, starting a collapse of domino of large cryptographic societies, notably Voyager, Celsius, Blockfi and Genesis.
3ac has until July 11 to file an objection before the hearing fixed for August 12.
