According to FoxNews, the estate of bankrupt crypto exchange FTX has filed a motion to reject a $1.53 billion claim from the liquidators of hedge fund Three Arrows Capital (3AC). FTX's lawyers argue that 3AC is owed nothing, attributing the hedge fund's collapse to its own high-risk trading strategies and significant withdrawals prior to its downfall. The filing asserts that on June 12, 2022, the actual net value of 3AC's accounts was only $284 million, a figure drastically lower than the claimed amount. FTX contends that the loss in account value resulted from market price declines and 3AC's own actions, not any liquidation or improper activity by FTX. This legal challenge seeks to prevent other FTX creditors from having to cover losses from what FTX describes as 3AC's failed bets on rising cryptocurrency prices.