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US Judge Grants Motion Expanding Three Arrows Capital’s Claim Against Bankrupt Exchange FTX to $1,530,000,000

A US judge is granting a motion to greatly expand the claim of the failed crypto hedge fund Three Arrows Capital (3AC) against the defunct crypto exchange FTX. According to new court filings, a judge is granting an expansion to 3AC’s claim against FTX, bringing its total up to a staggering $1.53 billion from just $120 million. The document says that FTX, which went bankrupt in 2022 under the leadership of chief executive Sam Bankman-Fried, liquidated $1.53 billion worth of 3AC’s assets on the platform just two weeks before 3AC went under itself. “Liquidators had learned that as of June 12th, 2022, 3AC had approximately $1.53 billion of assets on the FTX platform, and that between the close of business on June 12th, 2022, and the close of business on June 14th, 2022, nearly all of those assets were liquidated. The Liquidators’ analysis further showed that as of the close of business on June 12th, 2022, 3AC had a purported liability (called a ‘negative USD balance’) of approximately $1.3 billion which, in the Liquidators’ view, 3AC’s assets were liquidated to eliminate. In other words, the information obtained by the Liquidators in the year since they filed their Original POC led them to the new conclusion that just two weeks before the commencement of the 3AC Liquidation, the $1.53 billion of assets that 3AC had on the FTX platform were liquidated to satisfy $1.3 billion in liabilities to FTX.” 3AC was hit hard and subsequently failed to meet its margin calls after the Terra (LUNA) ecosystem collapsed in 2022, causing $40 billion to vanish from the digital assets industry. Around that time, 3AC was hit with a notice of default on a $665 million debt owed to the crypto hedge fund Voyager Digital. FTX also went bankrupt after the collapse of Terra. Bankman-Fried was later found guilty of defrauding investors and mishandling billions of dollars worth of customer funds. He was found guilty in 2023 and sentenced to decades behind bars. Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post US Judge Grants Motion Expanding Three Arrows Capital’s Claim Against Bankrupt Exchange FTX to $1,530,000,000 appeared first on The Daily Hodl . The Daily Hodl

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Expert identifies Solana’s path to $4,000

A trading expert has identified a technical setup that could see Solana ( SOL ) target the $4,000 mark as the decentralized finance ( DeFi ) asset continues to establish its price above the $100 support zone. According to Ali Martinez, Solana has the potential to surge by a staggering 2,900%, pointing to the formation of a cup and handle pattern as a strong indicator of a bullish trend, he said in an X post on March 14. Solana price analysis chart. Source: Ali Martinez Martinez noted that since November 2021, Solana has experienced a U-shaped decline, followed by a level-off phase, which is now evolving into the pattern’s “handle.” This technical formation is often seen as a precursor to a major upward movement in price. The cup and handle pattern is bullish, where the price forms a rounded bottom (the cup) followed by a consolidation phase (the handle). A breakout above the resistance level signals a potential rally. Martinez suggested that Solana could break the $200 resistance, paving the way for a surge toward $4,000. He emphasized that if Solana can decisively break above the $200 mark, the odds of a continued bullish rally increase significantly. In this case, a $4,000 valuation would likely elevate Solana to the highest-ranked digital asset with a market cap exceeding $2 trillion, provided Bitcoin ( BTC ) stagnates during this period. Meanwhile, another analysis by Ted Pillows in an X post on March 14 also stressed the significance of Solana holding the $110 level, as dropping below this mark could usher in a sustained correction for SOL. Solana price analysis chart. Source: Ted Pillows The expert stated that Solana stands at a key juncture, considering its retest of a multi-year support zone and a long-term uptrend line. Historically, these levels have provided strong buying opportunities. He highlighted the importance of the $110 to $120 zone, noting that failure to hold support could open the door for a deeper correction of 30% to 40%. However, a successful bounce could signal a reversal, with a potential upside if bullish momentum returns. Solana price fundamentals Although technical indicators are crucial to Solana’s next price trajectory, other fundamentals are also coming into play, with the spot exchange-traded fund ( ETF ) ranking as a key factor. Several entities have applied for the product with the Securities and Exchange Commission ( SEC ). On March 11, the SEC postponed its decision on multiple altcoin ETFs, including those for XRP , Solana, Litecoin ( LTC ), and Dogecoin ( DOGE ). The agency extended its review period, pushing decisions on Grayscale’s XRP ETF and Cboe BZX’s Solana ETF to May. SEC ETF verdict. Source : SEC Notably, Bloomberg ETF analyst James Seyffart called the delay “expected,” noting that final deadlines extend until October. Fellow analyst Eric Balchunas added that other ETF proposals, including one for Ethereum ( ETH ) staking, were also delayed. Eth staking and in-kind also delayed. Everything delayed. It`s like the NYC-bound Amtrak on monday morning: "Mechanical issues in DC" — Eric Balchunas (@EricBalchunas) March 11, 2025 The SEC has previously extended crypto ETF decisions amid leadership changes following Gary Gensler’s exit from the regulator. Although part of Solana’s momentum last year was driven by meme coin activity on its network, an ETF approval could help broaden SOL’s appeal and attract long-term investors. On the other hand, a proposal to slash Solana’s inflation rate by 80% (SIMD-228) has failed to pass after falling short of the required 66.67% approval. Despite securing 61.39% “Yes” votes, opposition from smaller validators tipped the balance, keeping SOL issuance unchanged. The decision could lead to short-term selling pressure, as lower inflation would have reduced token supply, potentially driving up SOL’s price. However, higher rewards may sustain validator participation and network security, a long-term positive. SOL price analysis As of press time, Solana was trading at $133.10, well below its 50-day ($183.93) and 200-day ($186.79) moving averages ( MA ), signaling a strong downtrend. The asset’s market sentiment remains bearish, with the Fear & Greed Index at 27 (Fear). However, the 14-day relative strength index ( RSI ) stands at 35.38. SOL must reclaim $150 and break above key resistance levels to reverse the bearish trend. Until then, downside risks remain in play. Featured image via Shutterstock The post Expert identifies Solana’s path to $4,000 appeared first on Finbold . The Daily Hodl