After Three Arrows Capital (3AC) accused FTX of mistakenly liquidating its $1.53 billion property, Binance co-founder Changpeng Zhao has questioned the function of FTX within the 2022 Luna/UST crash.
Attention-grabbing flip of the occasion. I had by no means identified this earlier than, however neither was stunned as a result of they (FTX/3AC) have been “shut.”
Are you curious if FTX has any connection to LUNA/UST Crash/DEPEG in Might 2022? https://t.co/oubjkhvfmc
– CZ🔶BNB (@CZ_BINANCE) March 14, 2025
Binance co-founder Changpeng Zhao (CZ) expressed his curiosity concerning the potential connection between LUNA/UST crash and FTX and 3AC, and weighed him based mostly on his shut relationship.
The previous Vinance CEO stated this after studying that the choose had allowed the three-arrow capital (3AC) to extend the claims in opposition to the bankrupt crypto alternate from $120 million to a considerable $1.53 billion.
Associated: 3AC's Su Zhu says: FTX crash might have been prevented
The ruling comes after 3AC alleged that FTX had settled its $1.53 billion in property simply two weeks earlier than FTX itself collapsed. 3AC claimed that FTX was unable to acquire info early because it retained necessary knowledge throughout the chapter. Due to this fact, 3AC stated it can’t accumulate all obligatory info earlier than the official declare deadline expires.
FTX fought again, arguing that the court docket mustn’t benefit from the 3AC's request, contemplating the delay within the replace. Defunct Crypto Trade stated 3AC has filed a model new declare.
The choose at present claims $1.53 billion on the 3AC facet
Nevertheless, the choose was on the facet of 3AC. In line with the choose, the 3AC replace coincides with the underlying difficulty of liquidating FTX's 3AC property regardless of advance warnings to FTX relating to potential publicity to extra necessary claims in an ongoing chapter case. This can be a main blow to FTX and its collectors.
Associated: FTX Chapter: $16 billion recovered, deliberate money funds for purchasers
The choose's determination clears the best way 3AC pursues a $1.53 billion declare in opposition to FTX. The choice famous that 3AC acted in good religion and didn’t blind FTX, which is unfairly blind, if ongoing. This ruling might have a major impression on the quantities obtainable to different FTX collectors.
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