Partager cet article
FTX Bankruptcy Claims Sell for 20 Cents on the Dollar in Private OTC Markets
The sales suggest distressed asset funds are projecting recoveries of about 50 cents over five years.
Par Oliver Knight
Distressed asset funds can pick up FTX bankruptcy claims for up to 20 cents on the dollar in private over-the-counter (OTC) markets, a person familiar with the matter told CoinDesk.
FTX filed for bankruptcy protection in November after its sister company Alameda Research was blown out of levered long positions during the market downswing. Sam Bankman Fried's defunct exchange now owes its 50 largest creditors $3.1 billion.
STORY CONTINUES BELOW
Ne manquez pas une autre histoire.Abonnez vous à la newsletter Crypto Daybook Americas aujourd. Voir toutes les newsletters
There are public bankruptcy markets, and they've valuing distressed FTX assets at around 16 cents on the dollar, with individual claims of up to $27 million being sold on bankruptcy marketplace XClaim.
The private OTC markets are showing similar pricing, with distressed asset funds buying in the range of 15 cents to 20 cents on the dollar, an anonymous FTX creditor told CoinDesk. "They are buying on the projection that they will only get money in five years," the person said. If the funds end up getting 25% in five years, it won't be a great trade as that's only about a 5% annual return. "I think a lot of these firms are projecting around 50 cents on the dollar recovery," the creditor suggested.
The person added that the deals are mostly private because not all claims are fungible, and the "quality" of the claim is also considered in the sale value.
"As the FTX website is currently down, it is very hard for people to prove the assets people had on the exchange," the person said. "There may also be a clawback period for those who tried to withdraw leading up to the bankruptcy, so the quality of claims is important."
Plus pour vous
L1 tokens broadly underperformed in 2025 despite a backdrop of regulatory and institutional wins. Explore the key trends defining ten major blockchains below.
Ce qu'il:
2025 was defined by a stark divergence: structural progress collided with stagnant price action. Institutional milestones were reached and TVL increased across most major ecosystems, yet the majority of large-cap Layer-1 tokens finished the year with negative or flat returns.
This report analyzes the structural decoupling between network usage and token performance. We examine 10 major blockchain ecosystems, exploring protocol versus application revenues, key ecosystem narratives, mechanics driving institutional adoption, and the trends to watch as we head into 2026.
Plus pour vous
Tensions over El Salvador's bitcoin holdings ease as IMF praises economic progress
The Central American country’s economy is projected to grow 4% this year, the IMF said.
Ce qu'il:
- The IMF praised El Salvador's stronger-than-expected economic growth and progress in bitcoin-related discussions.
- El Salvador's real GDP growth is projected to reach around 4%, with a positive outlook for 2026.
- Despite previous IMF recommendations, El Salvador continues to increase its bitcoin holdings, adding over 1,000 BTC during November's market downturn.
Top Stories
