According to @FoxNews, the estate of bankrupt crypto exchange FTX is strongly disputing a $1.53 billion claim from hedge fund Three Arrows Capital (3AC), arguing in a court filing that 3AC's own risky trading strategy and withdrawals caused its collapse. FTX's lawyers assert that the actual value in 3AC's accounts was only $284 million in June 2022 and that 3AC is owed nothing, a stance that could significantly alter payouts for creditors of both firms. Separately, Trump Media and Technology Group (DJT) announced a $400 million share buyback, explicitly stating the move will not impact its Bitcoin (BTC) treasury strategy. This reaffirmation of holding BTC as a corporate treasury asset, funded by a separate $2 billion raise, is a notable signal for the crypto market and contributed to a 3.8% rise in DJT stock.

According to FoxNews, the estate of bankrupt crypto exchange FTX has filed a motion to reject a $1.53 billion claim from the liquidators of hedge fund Three Arrows Capital (3AC). FTX's lawyers argue that 3AC is owed nothing, attributing the hedge fund's collapse to its own high-risk trading strategies and significant withdrawals prior to its downfall. The filing asserts that on June 12, 2022, the actual net value of 3AC's accounts was only $284 million, a figure drastically lower than the claimed amount. FTX contends that the loss in account value resulted from market price declines and 3AC's own actions, not any liquidation or improper activity by FTX. This legal challenge seeks to prevent other FTX creditors from having to cover losses from what FTX describes as 3AC's failed bets on rising cryptocurrency prices.

According to @FoxNews, NBA legend Shaquille O’Neal has agreed to a $1.8 million settlement to resolve a class-action lawsuit related to his promotion of the collapsed crypto exchange FTX. The settlement, which awaits court approval, would release O'Neal from future claims without an admission of wrongdoing. Concurrently, the FTX bankruptcy estate is strongly contesting a $1.53 billion claim from the defunct crypto hedge fund Three Arrows Capital (3AC). FTX's lawyers argue in a court filing that 3AC is owed nothing, attributing the fund's collapse to its own risky trading strategies and market downturns. The estate claims the actual value of 3AC's accounts was only $284 million in June 2022, not the $1.53 billion claimed, and that any losses resulted from 3AC's own withdrawals and market price declines. The outcome of this dispute is significant for FTX creditors, as it will directly affect the total assets available for distribution from the bankruptcy proceedings.

According to Bold (@boldleonidas), a tweet raised the question of who belongs on the crypto 'Mount Rugmore,' suggesting figures like Sam Bankman-Fried (SBF), Hayden Adams, Do Kwon, and the duo Kyle Davies and Su Zhu. These individuals are associated with significant events in the crypto space, including the FTX collapse, Terra's downfall, and the issues surrounding 3AC, which have had notable impacts on market dynamics and trading behaviors.

According to Lookonchain, Machi Big Brother (@machibigbrother) has invested 125 ETH, equivalent to $336.8K, to purchase 3.28 million 3AC tokens from @zhusu at an average price of $0.1028 per token.

According to Lookonchain, a savvy trader made 561 ETH (equivalent to $1.5 million) in just 7 hours by trading 3AC tokens. The trader initially spent 238 ETH ($641.5K) to acquire 28.03 million 3AC tokens when 3AC first opened for trading. They then sold 24.95 million 3AC tokens for 799 ETH ($2.15 million). The trader still holds 3.08 million 3AC tokens, valued at $369K.