Imagine a big company that invests in cryptocurrency, called Three Arrows Capital (3AC). It had a lot of money, but it lost almost everything in 2022! This happened because of some bad investments and a big drop in cryptocurrency prices. But there's a twist!
New information shows that another big company, FTX, secretly took away $1.53 billion from 3AC just before it failed. This makes people wonder if FTX played a role in 3AC's problems.
This is important because 3AC owes a lot of money to other companies. This new discovery could mean 3AC might get some of that money back from FTX, but probably not all of it.
- FTX secretly sold $1.53 billion of 3AC's cryptocurrency.
- 3AC is trying to get that money back.
- Even with the money, 3AC might still have owed lots of money.
| Fact | Number |
|---|---|
| Money FTX sold from 3AC | $1.53 billion |
| Money 3AC originally claimed from FTX | $120 million |
| Total 3AC owes | ~$3.3 billion |
