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FTX’s Downfall Just Got a Whole Lot Riper: Insiders Demand 1.5 Billion as Revenge

A  illustration depicting two figures standing on opposite sides of an empty desk with stacks of money and papers scattered around them. The figure on one side is holding a magnifying glass examining documents while the other has their arms crossed, looking defiant. In the background, there's a cityscape with skyscrapers in ruins to symbolize financial collapse.

It’s official: FTX has managed to turn what was already an unmitigated disaster into a circus act. The latest development is that 3AC’s liquidators are seeking to increase their claim against the embattled exchange to $1.53 billion, alleging that FTX engaged in ‘avoidable and unfair’ practices by seizing assets on its platform two weeks before it collapsed.

Source: cointelegraph

Liquidators of the defunct crypto hedge fund Three Arrows Capital (3AC) are reportedly seeking to amend their claim against FTX, increasing it to $1.53 billion from $120 million.. According to Bloomberg, 3AC’s liquidators allege that two weeks before the hedge fund collapsed, FTX liquidated and seized their assets on the platform to settle a $1.33 billion debt. The hedge fund claims the transactions were “avoidable and unfair” and caused harm […]

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