CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

BitcoinSistemi 2025-06-22 19:49:09

Major Development Occurs for Bankrupt Cryptocurrency Exchange FTX

FTX Recovery Trust, which is managing the liquidation process of cryptocurrency exchange FTX, has filed a formal 94-page objection in the US Delaware bankruptcy court seeking to completely dismiss the over $1.5 billion claim by failed hedge fund Three Arrows Capital (3AC). The appeal states that 3AC’s claim is “unrealistic, unsupportable, and based on an erroneous assumption regarding the account balance.” FTX argues that 3AC overstates the value of its digital assets. 3AC’s claim is based on FTX’s alleged holding of approximately $1.6 billion worth of digital assets on the platform when it went bankrupt in November 2022. However, as of June 2022, that account was worth only $284 million, including margin debt of more than $733 million, according to FTX’s statement. Related News: Bitcoin Price Below $100,000: Research Firm's Head of Research Reveals Next Support Level FTX alleged that 3AC ignored the debt burden and attempted to make its overly leveraged positions appear as “clean value.” According to the filing, most of that $284 million in assets disappeared in just two days. $222 million was wiped out by the crypto market crash, while $60 million was withdrawn by 3AC itself. FTX said they only liquidated one $82 million position after 3AC exceeded limits by not responding to margin calls. It claims this action was in accordance with the contract and “prevented a negative account balance.” The petition stated: “FTX creditors should not be insured against 3AC’s failed trades. The hedge fund took risky positions and messed it up. FTX took action as those positions collapsed.” If the court rules in FTX’s favor, 3AC’s claim could be dismissed entirely or significantly reduced to just ordinary creditor status, meaning the fund would only receive a small portion of the amount it is seeking. The next hearing will be held on August 12. *This is not investment advice. Continue Reading: Major Development Occurs for Bankrupt Cryptocurrency Exchange FTX

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta