US COURT ALLOWS 3AC TO EXPAND FTX CLAIM TO $1.5 BILLION; FTX ARGUES REORGANIZATION PLAN AT RISK

Summary from the TLDR Crypto newsletter

The U.S. Bankruptcy Court for the District of Delaware ruled in favor of Three Arrows Capital (3AC), allowing it to increase its claim against FTX from $120 million to $1.53 billion, despite FTX's objection that the motion was untimely and would disrupt its reorganization plan. The court found that FTX's delays in sharing records, not 3AC's diligence, caused the delay. 3AC's claim stems from its 2022 collapse amid liquidity issues following the Terra-Luna ecosystem's implosion.