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Bankruptcy Claims

All articles tagged with #bankruptcy claims

finance1 year ago

FTX Cleared to Sell $1B Stake in AI Startup Anthropic

Claims on the bankrupt FTX crypto exchange, previously run by Sam Bankman-Fried, have surged to 85-90 cents on the dollar, surpassing the performance of Nvidia's stock. The increase in value is attributed to the rebound in cryptocurrency prices and FTX's stake in Anthropic, a company behind ChatGPT rival Claude. FTX expects to pay back all its customers in full based on cryptocurrency valuations at the time of its bankruptcy in November 2022.

via MarketWatch|
#ai#bankruptcy-claims#cryptocurrency
business2 years ago

FTX's Carcass Trading Sparks Hot New Crypto Market Trend

Investors are engaging in a trading frenzy for FTX bankruptcy claims, betting on the recovery of funds misappropriated by FTX's founder, Sam Bankman-Fried. The market for FTX claims has exploded, with some claims selling for over 70 cents on the dollar. Hedge funds and investment firms, as well as investors with checkered histories, have shown interest in the market. The recovery process has moved faster than expected, with claims that once traded for a few cents now surging in value. However, there are risks involved, and the amount FTX will ultimately pay back remains uncertain.

via The New York Times|
#bankruptcy-claims#business#cryptocurrency
cryptocurrency2 years ago

Solana's Soaring Rally Boosts FTX's Holdings to $4.2B, Igniting Claims Market

The rally in the price of Solana (SOL) has caused FTX's holdings to surge to $4.2 billion, igniting the market for FTX bankruptcy claims. FTX, which previously faced bankruptcy, holds a significant amount of SOL tokens, with the majority locked up and not immediately tradable. The increased value of FTX's crypto holdings has led to a surge in demand for claims, with distressed firms scrambling to buy them at 60-70 cents on the dollar. The price increase is driven by Solana's performance and anticipation of an amended plan to be filed by December 16.

via CoinDesk|
#bankruptcy-claims#cryptocurrency#cryptocurrency-rally