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FTX creditor claims breach the 50c mark as buyers see light at end of tunnel

– FTX creditor claims are reportedly selling for over 50 cents on the dollar.
– Only the best claims typically reach this price tag.
– Smaller claims are trading between the high-end of 30 cents and the lower end of 40 cents.
– Clawback efforts from the bankrupt crypto exchange and capital-raising efforts from a company it invested in have increased the value of creditor claims.
– Anthropic, a company previously invested in by FTX, is looking to raise capital at a potential $30 billion valuation.
– FTX creditors may be made whole if this valuation is achieved.
– Concerns such as KYC and AML issues still need to be addressed.
– The recent Settlement and Plan Support announced by the Ad Hoc Committee of non-US FTX customers is seen as a significant win for firms looking to sell their claims.
– The amended support plan includes a “shortfall claim” where customers would collectively receive 90% of distributable assets.
– Since filing for bankruptcy protection, FTX has made moves to regain lost assets, including the sale of FTX holdings and clawbacks from other crypto firms and former-FTX seigniorage.

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