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FTX claims have risen to 50 to 53 cents per dollar

According to Bloomberg News on October 26th, Cherokee Acquisition, a bad asset investment company, is now offering FTX debt at a price of 50 to 53 cents per dollar, up from the range of over 40 cents last week. Since FTX went bankrupt and began recovering billions of dollars in assets, FTX debt claim prices have been relatively stable and rising, and major hedge funds have been buying and selling these claim rights, covering losses from FTX account equity to compensation for losses due to abandoned contracts.

On October 25th, FTX is negotiating with three undisclosed bidders to restart its trading platform. The company expects to make a decision on how to proceed by mid-December. Options include selling the entire trading platform, including a valuable list of over 9 million customers, or bringing in a partner to help restart the trading platform. In addition, FTX is also considering restarting the trading platform on its own.

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