BlockFi Says FTX and Three Arrows Capital Ineligible for Repayment
Join Our Telegram channel to stay up to date on breaking news coverage BlockFi is trying to block attempts by FTX and Three Arrows Capital to recover billions of dollars worth of repayments from the lending firm. In two notices of objection filed by BlockFi on Monday, the firm cited fraud committed by both companies as the reason behind its current financial predicament, which it argued makes them in eligible for repayments. “FTX’s fraud caused BlockFi to lose over a billion dollars worth of property, which could take years of litigation to recover,” it said in a notice. “FTX’s fraud was also a primary cause of BlockFi’s bankruptcy.” The notice adds that despite all the ”wrongful acts—FTX filed defective claims against the BlockFi estates, each of which is meritless.” In another notice entitled Objection to Claims of Three Arrows Capital, BlockFi claimed that the now-defunct crypto hedge fund company used fraudulent...