Three Arrows Capital seeks to increase the claim amount against FTX to 1.53 billion US dollars

According to Cointelegraph, the liquidators of the now-defunct Hedging fund, Three Arrows Capital, are attempting to amend their claim against FTX, increasing the amount claimed from $120 million to $1.53 billion. The liquidator of Three Arrows Capital claimed that FTX liquidated and seized their assets on the platform two weeks before the Hedging fund collapsed, in order to pay off the debt of $1.33 billion. The Hedging fund claimed that these transactions were “avoidable and unfair” and caused damage to Three Arrows Capital’s creditors. Three Arrows Capital believes that the liquidation should be invalid and accuses FTX of undervaluing trades and violating trust and contracts. Three Arrows Capital also claimed that FTX provides necessary information on latency, forcing Three Arrows Capital to parse the original data to calculate the loss. Therefore, Three Arrows Capital stated that the liquidation amount can only be confirmed in August. However, FTX responded that an unnamed individual related to Three Arrows Capital initiated the asset liquidation, and FTX has not yet confirmed the identity of this person. The court will hold a hearing on November 20 to discuss Three Arrows Capital’s motion to amend the claim.