If they're unable to claim anything on FTX as an asset on their balance sheet and if they are upside down on some other position(s) really bad (which is highly

If they're unable to claim anything on FTX as an asset on their balance sheet and if they are upside down on some other position(s) really bad (which is highly likely this year) and new capital is hard to get they might have to close positions to get their balance sheet under control. Depends how much margin these hedge funds have been using in comparison to "assets" that are crypto that was basically fraud/stolen from them.