#FTX called 3AC's $1.5 billion amended Proof of Claim “a fiction,” declaring the former cryptocurrency hedge fund “is owed nothing.” FTX's objection filed Friday (DN 30932) said 3AC liabilities outweighed its assets (both digital and fiat) due to withdrawals and price declines. 3AC's account balance declined by $282 million (see chart below) over two days due to price declines of $222 million and 3AC’s withdrawals of $60 million (para. 9), according to the filing. A hearing is scheduled for Aug. 12. Cherokee's Claims Market is a leading venue for FTX and all other bankruptcy claims. #bankruptcy #crypto