3AC Management Blames FTX Exchange: They Screwed Us!

Bahamas-based cryptocurrency exchange that went bankrupt last week FTX The allegations about it are incessant.

One of the largest crypto investment institutions Three Arrows Capital (3AC) Kyle Davies, one of its co-founders, has made new allegations about the bankrupt crypto exchange. The 3AC founder spoke today on business television channel CNBC.

Three Arrows Capital executive, in a statement Alamenda Research and claimed that FTX had “traded against its customers” in the past. Davies explained that many of 3AC’s transactions on the exchange were liquidated because of this. 3AC filed for bankruptcy protection last July.

“FTX and Alamenda acted together, albeit different companies. Such a situation is unacceptable. There should be sharp distinctions between a stock exchange and a registered company.”

The 3AC founder believes that FTX and Alamenda Research executives manipulated the market by using their power. According to Davies, many institutional investors’ transactions were liquidated with this method.

Proprietary companies can sometimes try such manipulations against their competitors. However, the claim that crypto money exchanges, which have the status of intermediary institution, cooperate with foreign companies is very critical.

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