After Three Arrows Capital (3AC) accused FTX of wrongfully liquidating $1.53 billion in property, Binance co-founder Changpeng Zhao has now questioned FTX’s function within the 2022 LUNA/UST crash.
Fascinating flip of occasions. I did not know this earlier than, however not stunned both as they (FTX/3AC) have been “shut”.
I’m curious if FTX had something to do with the LUNA/UST crash/depeg in Could 2022? https://t.co/oubjKHvfMC
— CZ 🔶 BNB (@cz_binance) March 14, 2025
Binance co-founder Changpeng Zhao (CZ) weighed in, expressing curiosity in regards to the LUNA/UST crash and its potential connection to FTX and 3AC, given their shut relationship.
The previous Binance CEO said this after studying that the decide allowed Three Arrows Capital (3AC) to extend its declare in opposition to the bankrupt crypto alternate – from $120 million to a big $1.53 billion.
Associated: 3AC’s Su Zhu Speaks Out: FTX Crash May Have Been Prevented
The ruling got here after 3AC claimed FTX liquidated $1.53 billion of its property simply two weeks earlier than FTX itself collapsed. 3AC argued it couldn’t have gotten the data sooner as a result of FTX, within the midst of chapter, held the essential information. Subsequently, 3AC stated it couldn’t collect all the mandatory data earlier than the official declare deadline expired.
FTX fought again, arguing that the court docket shouldn’t entertain 3AC’s request, contemplating the replace’s lateness. The defunct crypto alternate stated 3AC had introduced a model new declare, which the court docket ought to dismiss as a result of it missed the submitting deadline.
Choose Sides with 3AC, Declare Now $1.53 Billion
However the decide sided with 3AC. In line with the Choose, 3AC’s newest data is per the underlying difficulty of FTX liquidating 3AC’s property, regardless of a previous warning to FTX on the potential publicity to extra important claims within the ongoing chapter case. This can be a main blow to FTX and its collectors.
Associated: FTX Chapter: $16 Billion Recovered, Money Funds Deliberate for Prospects
The Choose’s resolution clears the way in which for 3AC to pursue its $1.53 billion declare in opposition to FTX. The choice famous that 3AC acted in good religion, and no celebration unfairly blindsided FTX within the ongoing case. The ruling may considerably impression the sum of money out there to different FTX collectors.
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