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According to a Deep Tide TechFlow report on June 23, The Block reported that the legal team of the bankrupt crypto exchange FTX has officially opposed the $1.53 billion claim made by Three Arrows Capital, asking the court to dismiss the claim entirely.
FTX's lawyers stated that the losses of Three Arrows Capital were due to market price fluctuations and the company's own withdrawal actions, rather than any actions by FTX. Although FTX admitted to a forced liquidation of $82 million, the lawyers argued that this was legally executed based on credit and margin agreements.
Previously, it was reported that in March of this year, the Delaware bankruptcy court allowed Three Arrows Capital to expand its initial claim of $120 million to $1.53 billion.