Last Updated on November 19, 2023 by Bitfinsider
Some major FTX creditors are being offered as much as $0.60 to $0.65 on the dollar, representing a 30% increase over a month ago.
Some over-the-counter (OTC) trades of FTX creditor claims concluded at more than $0.50 on the dollar in late October.
FTX debt claim specialist Thomas Braziel believes the situation will improve further. “The claims should approach the horizon of the recovery which is probably somewhere in the 80% to 90% plus range,” he added.
However, while Baziel, a partner at 117 Partners, stated that some claims are currently being tendered for as much as $0.60 to $0.65 per dollar, securing the upper end of that range may be challenging for some. “Multiple big distressed firms are heading into the 60s now,” he added, emphasizing that only clean, multi-million dollar claims are expected to come close to $0.65.
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