Court Approves Three Arrows Capital's $1.53 Billion Claim Against FTX

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📈 Preview On Today’s News:

1. - Court Approves Three Arrows Capital's $1.53 Billion Claim Against FTX

2. - Gemini Breaks Record with Largest Bitcoin Drone Display

3. - Telegram Founder Pavel Durov Leaves France Amid Legal Troubles, Toncoin Surges

Keep reading below for more!

Have you heard of Chain of Thought?

Today’s News:

1)

Court Approves Three Arrows Capital's $1.53 Billion Claim Against FTX

A U.S. bankruptcy court has granted Three Arrows Capital (3AC), a defunct cryptocurrency hedge fund, approval to expand its claim against the collapsed crypto exchange FTX from $120 million to $1.53 billion. The claim stems from allegations that FTX liquidated 3AC’s assets, valued at $1.53 billion as of June 12, 2022, during a critical period before its own bankruptcy. These assets were reportedly converted to fulfill $1.3 billion in debt obligations, further worsening 3AC’s financial position after losses from the Terra ecosystem collapse and liabilities to Voyager Digital. The legal proceedings are expected to significantly impact both FTX’s bankruptcy case and 3AC’s recovery efforts.

• A U.S. court approved Three Arrows Capital’s request to increase its claim against FTX from $120 million to $1.53 billion, tied to asset liquidations before FTX’s collapse in 2022.

• The expanded claim highlights 3AC’s worsening financial state and could influence both FTX’s bankruptcy proceedings and 3AC’s path to potential recovery.

2)

Gemini Breaks Record with Largest Bitcoin Drone Display

Cryptocurrency exchange Gemini has achieved a Guinness World Record for creating the largest Bitcoin symbol using a synchronized drone display. The event, featuring hundreds of drones forming the iconic logo in the night sky, emphasized the growing mainstream appeal of digital assets and highlighted the innovative ways crypto companies are promoting awareness. This record-breaking spectacle not only showcased Bitcoin’s global influence but also demonstrated how technology and creativity are driving broader public engagement with cryptocurrency.

• Gemini set a Guinness World Record by forming the largest Bitcoin symbol in the sky using hundreds of synchronized drones, highlighting crypto’s increasing mainstream appeal.

• The event underscored how technology and creativity are advancing public awareness and adoption of digital assets, reinforcing Bitcoin’s global presence.

3)

Telegram Founder Pavel Durov Leaves France Amid Legal Troubles, Toncoin Surges

Telegram founder Pavel Durov has been temporarily permitted to leave France for Dubai after being detained since August 2024 on serious criminal charges, including allegations of enabling organized crime, terrorism, drug trafficking, and fraud via his platform. The decision followed a judge’s approval to modify his supervision terms. In response, Toncoin (TON)—the token linked to Telegram’s blockchain—surged by over 15%, while Notcoin (NOT), another Telegram-related token, rose more than 12.7%. Despite his legal battles, Durov maintains his innocence and reaffirms his commitment to Telegram’s user safety and content moderation practices.

• Pavel Durov, founder of Telegram, was allowed to leave France for Dubai amid ongoing investigations into allegations of organized crime and other serious offenses linked to the Telegram platform.

• Toncoin (TON) surged over 15% and Notcoin (NOT) rose more than 12.7% following news of Durov’s departure and the easing of his legal supervision terms.

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