FTX’s claims prices have experienced a remarkable
surge, reaching almost 80 cents to the dollar amid an anticipated hearing of a
dispute between the bankrupt crypto exchange and its creditors.

According to a report by Cointelegraph, FTX is
advocating for a refund process based on the market prices for November 2022,
while creditors are pushing for a payment system based on the number of lost
tokens, regardless of market values.

FTX’s proposal to reimburse creditors based on
cryptocurrency prices on the day of its bankruptcy has encountered staunch
opposition. The clash in perspectives has intensified in the lead-up to the
estimation hearing, resulting in FTX claim prices skyrocketing to nearly 80
cents on the dollar.

Cherokee Acquisition, a prominent investment banking
firm specializing in bankruptcy claims, has reported a surge in FTX claim
prices. The data reveals that claims exceeding $3 million have experienced an
increase of 80%, reflecting growing confidence among creditors in receiving
substantial repayments.

This surge places FTX ahead of other bankrupt crypto
companies like Alameda Research, Genesis Global, and Three Arrows Capital,
which have also seen significant spikes in claim prices.

FTX Faces Scrutiny

FTX’s woes extend beyond the courtroom, with over
100 objection letters filed globally against the debtor’s motion to estimate
claims. Retail FTX customers from South Korea, the United States, Canada, the
United Kingdom, and more have voiced their concerns.

With an estimated one million creditors seeking
redemption from the FTX’s fallout, the stakes are high. FTX disclosed a
staggering $3.1 billion debt to its top 50 creditors alone, with the largest
creditor owing $226 million.

FTX’s claims prices have experienced a remarkable
surge, reaching almost 80 cents to the dollar amid an anticipated hearing of a
dispute between the bankrupt crypto exchange and its creditors.

According to a report by Cointelegraph, FTX is
advocating for a refund process based on the market prices for November 2022,
while creditors are pushing for a payment system based on the number of lost
tokens, regardless of market values.

FTX’s proposal to reimburse creditors based on
cryptocurrency prices on the day of its bankruptcy has encountered staunch
opposition. The clash in perspectives has intensified in the lead-up to the
estimation hearing, resulting in FTX claim prices skyrocketing to nearly 80
cents on the dollar.

Cherokee Acquisition, a prominent investment banking
firm specializing in bankruptcy claims, has reported a surge in FTX claim
prices. The data reveals that claims exceeding $3 million have experienced an
increase of 80%, reflecting growing confidence among creditors in receiving
substantial repayments.

This surge places FTX ahead of other bankrupt crypto
companies like Alameda Research, Genesis Global, and Three Arrows Capital,
which have also seen significant spikes in claim prices.

FTX Faces Scrutiny

FTX’s woes extend beyond the courtroom, with over
100 objection letters filed globally against the debtor’s motion to estimate
claims. Retail FTX customers from South Korea, the United States, Canada, the
United Kingdom, and more have voiced their concerns.

With an estimated one million creditors seeking
redemption from the FTX’s fallout, the stakes are high. FTX disclosed a
staggering $3.1 billion debt to its top 50 creditors alone, with the largest
creditor owing $226 million.



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