Thomas Braziel, who specializes in FTX debt claims, stated that some FTX creditors value their claims at over $0.5. Purchasing a claim gives the holder the right to recover any assets from FTX's bankruptcy estate, and a price above $0.50 indicates that the market currently expects about half of user assets to be recovered. Braziel, a partner at 117 Partners, said that in Friday's auction, claims worth over $20 million were sold at around 52 cents, but only the "largest, cleanest claims" were able to fetch that price. Since the artificial intelligence company Anthropic, which purchased a large stake in FTX, announced several major investments recently, enthusiasm for the value of FTX claims has continued to rise. Creditors hope that selling shares in Anthropic will help return funds to creditors and potentially achieve full recovery. In a January survey of X, most respondents expected a claims payout rate of only 25%. Since then, the FTX debtor estate led by CEO John Ray III has attempted to recover funds, started selling tokens, and liquidated other assets of the estate. Meanwhile, SBF's criminal trial is still ongoing.
All Comments