FTX Creditor Claims Priced Above $0.50 in Over-the-Counter Transactions


Source: AdobeStock / Rafael Henrique

A number of over-the-counter (OTC) transactions involving FTX creditor claims are valuing these claims at over 50 cents on the dollar.

According to a report by The Block, the price is a notable increase from earlier, and was revealed by Thomas Braziel, a specialist in FTX debt claims at 117 Partners, following a recent claims auction.

The auction reportedly saw an FTX claim of more than $20 million sold for 52 cents on the dollar.

The price indicates that the market now expects that FTX creditors will get back about half of their money from the bankrupt exchange, although Braziel noted that the price only applies to the “largest and cleanest claims.”

FTX claims prices keep moving higher

The same optimistic sentiment was also expressed in an article shared by Braziel on X, which said prices for FTX claims “have continued to move higher since the initial failure nearly one year ago.”

Source: “Melting Crypto Winter” article via Medium.com

“As the asset recovery continues and the illiquid components such as the venture portfolio, real estate portfolio, and other smaller investments are sold and marked as liquid, the value of claims looks poised to continue steadily rising, above $0.40 per claim,” the article added.

Despite the rising prices of FTX claims, not everything is going well for FTX creditors.

Earlier this month, a court decision to settle a dispute between bankrupt crypto lender, Genesis and FTX’s sister company, Alameda Research, outraged FTX creditors, who called the settlement the “worst deal to date” for FTX creditors.


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