Liquidators of defunct Cryptocurrency hedge fund Three Arrows Capital (3AC) are seeking to increase their claim against FTX from $120 million to $1.53 billion.
According to a Bloomberg report, 3AC alleges that, shortly before its collapse, FTX liquidated and seized the fund’s assets valued at $1.33 billion, an action they consider “unfair” and harmful to its creditors. The hearing to review this motion is scheduled for November 20.
The liquidators maintain that these liquidations should be invalidated. Accusing FTX of undervaluing transactions and breaking trust and contract between both parties. In addition, they claim that FTX delayed the delivery of key information, forcing 3AC to analyze raw data until August to confirm the value of the liquidated assets.
For its part, FTX responded by pointing out that an unknown actor linked to 3AC had initiated the liquidation of the assets. The company has not yet identified the person responsible.
Cryptocurrency influencer Kevin Mirshahi’s body found in Montreal
Montreal police have confirmed that the body found in Île-de-la-Visitation park on October 30 belongs to 25-year-old cryptocurrency influencer Kevin Mirshahi. Mirshahi was reported missing in June after he and three other people were kidnapped from an apartment building in Old Montreal. While his companions were released the next day, Mirshahi remained missing.
Known for his investment company Crypto Paradise Island, Mirshahi was no stranger to controversy. Since 2021, Quebec’s investment regulator, the Autorité des marchés financiers, had investigated him for dubious practices in the financial sector. Which culminated in a ban in July of this year for him and his company, which prevented them from carrying out brokerage and advisory activities.
The case took a turn in August, when police arrested a 32-year-old woman in connection with the kidnapping and murder of the young businessman. The suspect faces charges of first-degree murder and other crimes.
Bitcoin-pero-cree-que-elevaria-el-precio-a-usd-500-000″>Mike Novogratz sees it unlikely that the United States will adopt a Bitcoin reserve, but believes it would raise the price to USD 500,000
In a recent interview with Bloomberg, Mike Novogratz, CEO of Galaxy, shared his skepticism regarding the possibility of the United States establishing a national reserve of Bitcoin.
Novogratz considers that such a measure could skyrocket the price of Bitcoin to USD 500,000. Likewise, he believes that the current government faces significant obstacles to implementing this initiative.
According to Novogratz, although Republicans control the Senate, they lack the majority necessary to pass such a law. «It would be very smart for the United States to take the Bitcoin it has and perhaps increase it. But I don’t necessarily think that the dollar needs something to support it,” he said, making clear his position on the difficulty of such an innovative proposal.
The bill, promoted by Senator Cynthia Lummis and supported by some state representatives, has found bipartisan support. However, for Novogratz, legislative support is still insufficient. Added to this is the opposition of prominent figures such as Senator Elizabeth Warren, a well-known critic of cryptocurrencies, with whom Novogratz has had recent confrontations on social networks.
Peter Schiff would ironically suggest Trump media follow MicroStrategy’s example and bet on Bitcoin
Peter Schiff, veteran economist and well-known Bitcoin critic, once again made noise in the cryptocurrency market by proposing an unexpected strategy for Trump Media & Technology Group (TMTG), the company behind DJT stock. In a post on
Schiff proposed that the company, which he says “has no real business,” should take advantage and convert its treasury into Bitcoin. In a satirical tone, he even suggested that TMTG should go into debt and issue more shares to acquire even more Bitcoin. Hinting at a “moonshot” for DJT stock.
Since $DJT stock doesn’t actually have a business, why doesn’t it just use its cash to buy #Bitcoin? In fact, why stop there? Just follow the @saylor business playbook: borrow billions and issue more shares, then use the money raised to buy even more Bitcoin. DJT to the moon!
— Peter Schiff (@PeterSchiff) November 13, 2024
True to form, Schiff referred to Bitcoin as the “largest bubble in history” and has stated that many of his comments about the cryptocurrency are sarcastic. The suggestion towards TMTG appears to be a joke that ridicules the risky bets of some companies in the Bitcoin market. In particular, the MicroStrategy strategy, led by Michael Saylor.
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