Three Arrows Capital seeks to increase its claim amount for FTX to $1.53 billion

According to Cointelegraph, the liquidator of the bankrupt cryptocurrency hedge fund Three Arrows Capital is attempting to modify its claim against FTX, increasing its claim amount from $120 million to $1.53 billion. The liquidator of Three Arrows Capital claimed that two weeks before the hedge fund went bankrupt, FTX liquidated and seized their assets on the platform to repay $1.33 billion in debt. The hedge fund claims that these transactions are "avoidable and unfair" and have caused damage to the creditors of Three Arrows Capital. Three Arrows Capital believes that liquidation should be ineffective and accuses FTX of underestimating transactions and violating trust and contracts. Sanjian Capital also claimed that FTX delayed providing necessary information, forcing Sanjian Capital to analyze raw data to calculate losses. 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 asset liquidation, and FTX has not yet confirmed the identity of this person. The court will hold a hearing on November 20th to discuss the motion of Three Arrows Capital to modify its claim.