FTX Claim Price Increases 57% As Jury Found SBF Guilty

FTX’s claim pricing as of right now is up to a maximum of 57%, based on data from Claims Market. The increment happened due to the valuation of artificial intelligence (AI) businesses in which the now-defunct cryptocurrency exchange had previously invested.

Creditors stake their claims in an attempt to recover a portion of their investment when companies face bankruptcy or financial difficulties. These claims are often traded by investors based on predictions of the overall amount recovered. When a claim’s pricing increases, so does the expected recovery amount.

The amount that FTX could be able to recover from its bankruptcy process increased in parallel with the value of its investment in these AI startups. A legal declaration of a certain monetary amount is called a claim.

The percentage of the investment amount anticipated to be recouped from the platform is known as the claim percentage value. In comparison to other defunct cryptocurrency companies like Celsius (35–40%), Genesis (around 50%), Alameda (10%), and Three Arrows Capital (about 7–9%), FTX asserts that its value has surged to the top.

FTX Claim Price Increases 57% As Jury Found SBF Guilty

The increase in FTX lawsuits coincides with the conclusion of Sam Bankman-trial Fried, the former CEO of FTX, on November 2, when the jury found him guilty of all seven counts. In March 2024, the judge will announce the sentence.

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2023-11-03 19:53