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News

FTX Claims Price Surges To 53 Cents On The Dollar: Report

October 26, 2023 - Around 2 mins mins to read

Key Points:

  • FTX claims price has significantly increased after considering proposals from three bidders for their closed exchange.
  • Cherokee Acquisition now quotes FTX claims between 50 and 53 cents on the dollar, compared to the low-to-mid 40 cents range last week.
FTX claims price surges as three bidders propose for the closed exchange. Cherokee Acquisition quotes FTX claims between 50-53 cents, up from last week’s 40 cents range, as per BBG.
FTX Claims Price Surges To 53 Cents On The Dollar: Report

The prices for FTX Group claims have seen a significant increase after an adviser to the failed crypto conglomerate revealed that they are considering proposals from three bidders for their currently closed exchange.

Cherokee Acquisition, a company that brokers bankruptcy claims, is now quoting FTX claims between 50 and 53 cents on the dollar, compared to the low-to-mid 40 cents range last week. The price of FTX claims has been steadily rising over the past year as advisers recover assets from the bankrupt crypto empire.

The Rise of FTX claims price

Not only have major hedge funds been buying and selling these claims, but FTX investment banker Kevin M. Cofsky recently mentioned in court that the company is engaging with multiple parties on a daily basis. Various options are being considered, including selling the entire exchange, bringing in a partner to restart the exchange, or rebooting it independently.

Last month, Matrixport, a crypto services provider, reported that the expected payout for creditor claims against FTX has surged to an average of 37 cents on the dollar, the highest since the bankruptcy filing in late 2022, which is a significant increase from just over 10 cents at the beginning of 2023.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.
News

FTX Claims Price Surges To 53 Cents On The Dollar: Report

Key Points:

  • FTX claims price has significantly increased after considering proposals from three bidders for their closed exchange.
  • Cherokee Acquisition now quotes FTX claims between 50 and 53 cents on the dollar, compared to the low-to-mid 40 cents range last week.
FTX claims price surges as three bidders propose for the closed exchange. Cherokee Acquisition quotes FTX claims between 50-53 cents, up from last week’s 40 cents range, as per BBG.
FTX Claims Price Surges To 53 Cents On The Dollar: Report

The prices for FTX Group claims have seen a significant increase after an adviser to the failed crypto conglomerate revealed that they are considering proposals from three bidders for their currently closed exchange.

Cherokee Acquisition, a company that brokers bankruptcy claims, is now quoting FTX claims between 50 and 53 cents on the dollar, compared to the low-to-mid 40 cents range last week. The price of FTX claims has been steadily rising over the past year as advisers recover assets from the bankrupt crypto empire.

The Rise of FTX claims price

Not only have major hedge funds been buying and selling these claims, but FTX investment banker Kevin M. Cofsky recently mentioned in court that the company is engaging with multiple parties on a daily basis. Various options are being considered, including selling the entire exchange, bringing in a partner to restart the exchange, or rebooting it independently.

Last month, Matrixport, a crypto services provider, reported that the expected payout for creditor claims against FTX has surged to an average of 37 cents on the dollar, the highest since the bankruptcy filing in late 2022, which is a significant increase from just over 10 cents at the beginning of 2023.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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