Instead of waiting for a lengthy bankruptcy process, some investors, who have claims on FTX exchange, Celsius Network, BlockFi and Voyager Digital, are looking to pass on their claims to others. 

Data from crypto claims trading startup Xclaim shows that there are at least hundreds of investors who have been affected by the recent collapses of crypto platforms FTX, Celsius, BlockFi and Voyager who do not want to wait for the lengthy bankruptcy process that doesn’t guarantee that they will even be able to get something.

The investors have listed their claims for sale to get something out of it even though they might incur some losses in the process. At the time of writing, almost ten thousand claims were listed, with 9,072 claims on Celsius Network, 93 claims on Voyager, 67 claims on FTX and 23 claims on BlockFi.

Matt Sedigh, the founder of Xclaim, said in an interview with the mainstream media outlet Wall Street Journal that they have been receiving calls from creditors from various areas of the world. According to the executive, two-thirds of the claims posted are from creditors based in China, Hong Kong and Taiwan.

Some hedge funds and debt investors have been shopping for claims. Companies like Contrarian Capital Management, Invictus Global Management and NovaWulf Digital Management have purchased some of the claims.

(By EZRA REGUERRA)

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