Three Arrows Capital is requesting to summon three FTX executives: Sam Bankman-Fried, Ryan Salame, and Caroline Ellison. If accepted, Bankman-Fried’s deposition assertion will happen on October 14, 2025.
Abstract
- Three Arrows Capital continues to push authorized motion in opposition to FTX by summoning its three prime executives to reply for the alleged forced-liquidation of 3AC’s $1.5 billion account.
- Former CEO of FTX, Sam Bankman-Fried, is being summoned to offer a disposition in court docket on October 14, 2025.
In a latest court docket doc, Three Arrows Capital has compelled the previous FTX executives of one of many largest change chapter circumstances ever recorded to offer testimonies and paperwork in court docket associated to the alleged liquidation of 3AC’s $1.5 billion place.
The doc titled “Discover of Intent to Serve Subpoena on Sam Bankman-Fried” requests that the previous CEO of FTX Sam Bankman-Fried, who’s presently serving time in a jail facility in California, to offer a disposition on October 14, 2025.
If the summon is accepted, then Bankman-Fried should be transported from jail to a courtroom the place he should testify beneath oath concerning the agency’s dealings with Three Arrows Capital or 3AC earlier than its downfall.
3AC have filed a discover to subponea SBF, Ryne Salame, Caroline Ellison
Sam’s disposition will happen on 14 Oct 2025@zhusu has stated that Sam liquidated $1.5bn of their positions illegally, and
Ryne Salame used inside data to commerce in opposition to shopper positions to money out $1bn pic.twitter.com/LMr2VzMA2l
— Sunil (FTX Creditor Champion) (@sunil_trades) September 11, 2025
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Within the doc shared by FTX creditor Sunil Kavuri, the doc not solely summons Bankman-Fried but in addition his associates that have been sentenced to jail time by courts on account of their involvement within the scandal that defrauded prospects of billions.
The names talked about within the doc embody former Alameda Analysis CEO Caroline Ellison and former co-CEO of FTX Digital Markets, Ryan Salame.
In line with Kavuri, 3AC co-founder Zhu Su accused Sam Bankman-Fried of force-liquidating $1.5 billion of 3AC’s positions illegally throughout the 2022 crypto crash. If that is true, it will imply that the change performed an element in pushing 3AC off the ledge of insolvency.
Not solely that, Zhu Su has additionally accused Salame of utilizing insider info, corresponding to data of shopper orders and positions, to commerce in opposition to them. He allegedly pocketed round $1 billion.
What’s the connection between FTX and 3AC?
Again in June 2025, FTX’s chapter property denied claims from Three Arrows Capital. The hedge fund claimed that its account stability reached almost $1.6 billion when the crypto change collapsed in mid-to-late 2022 . Nevertheless, representatives stated that the web worth solely reached round $284 million after subtracting $733 million in margin debt.
In a 94-page objection, legal professionals requested the choose to completely disallow 3AC’s declare, calling it “illogical and baseless.”
“FTX collectors shouldn’t be a backstop for 3AC’s failed trades,” the property wrote.
In line with the submitting, 3AC refused to acknowledge liabilities and is making an attempt to get different collectors to cowl losses from a closely leveraged place.
Actually, the objection said that many of the $284 million evaporated over two days in June 2022 when the crypto market crashed. Of that quantity, $222 million was misplaced to market declines, and one other $60 million was withdrawn by 3AC itself. The change says it solely liquidated $82 million, which was allowed beneath contract phrases, and that doing so helped forestall the account from turning unfavorable.
Initially claiming to carry $120 million in its account, 3AC expanded their declare to $1.53 billion in late November 2024.
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