According to FTX's lawyers, the bankrupt crypto exchange argues that Three Arrows Capital (3AC) is owed nothing from its $1.53 billion claim, as 3AC's risky trading strategy caused its own collapse. FTX states that the actual value in 3AC's accounts was $284 million on June 12, 2022, with losses due to market declines and 3AC's withdrawals, not FTX's liquidation actions (source: court filing). This dispute could delay creditor payouts and impact market confidence in crypto exchange risk management.

According to FTX's court filing, the bankrupt crypto exchange argues that Three Arrows Capital (3AC) is owed nothing for its $1.53 billion recovery claim, stating that 3AC's own high-risk trading strategies caused its collapse during the 2022 crypto market downturn. FTX lawyers noted that 3AC's account value was only $284 million on June 12, 2022, and that FTX's liquidation actions benefited 3AC, with potential implications for FTX creditor distributions and broader market volatility as the hearing approaches on August 12.