Prices for FTX Group claims have seen a marked increase in value since news broke that advisers for the now defunct crypto conglomerate were considering proposals from 3 interested bidders.
Cherokee Acquisition, the enterprise charged with brokering FTX bankruptcy claims, is currently rating FTX claims anywhere from 50 to 53 cents per dollar, considerably higher than the mid-40’s previously given last week. This steady increase in value is attributed to other hedge funds now joining the march towards recovery efforts, along with active involvement from FTX investment banker Kevin M. Cofsky, now engaging with multiple parties every day to discuss interested options including full-on sale of the exchange, inviting a partner in to relaunch it, or simply rebooting the system independently.
This month, crypto services company Matrixport reported that creditor claims against FTX could now warrant an average payout of 37 cents per dollar – the highest since bankruptcy was filed in 2022 – which is an astonishing uplift from the paltry 11 cents from January of 203.
