FTX Debt Prices Surge to 73 Cents, SOL Overtakes XRP as the Fifth Largest Cryptocurrency by Market Cap
FTX Group enters the final stage of bankruptcy liquidation, and FTX claim prices rise rapidly, partly due to the recovery of the cryptocurrency market, especially the surge in the price of SOL held in large quantities by FTX, making it the fifth largest cryptocurrency by market value, surpassing Ripple (XRP), bringing a ray of hope to millions of FTX users and creditors.
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FTX claim prices surge astonishingly
Unknown factors remain in FTX claims
FTX claims were once only worth 10 cents after the closure
Driving force behind claim price surge: Anthropic shares, SOL
According to Cherokee Acquisition data, FTX claim market prices have risen from 50 to 53 cents per dollar at the end of October to the current range of 57 to 73 cents per dollar.
This price surge seems to be related to the latest update from FTX bankruptcy managers on October 16, which stated that if the revised plan is approved, customers of FTX.com and FTX US will jointly receive “over 90% of the globally allocable value.”
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Cherokee’s directors pointed out that despite the rise in FTX claim market prices, it is still unclear how much funding will ultimately be distributed to creditors and when the distribution will take place.
After FTX collapsed in November last year, founder SBF was arrested for fraud and is currently awaiting judgment. After the bankruptcy, FTX claim market prices fell to as low as 10 cents per dollar.
Other factors driving the increase in claim prices include FTX’s stake in the artificial intelligence startup Anthropic, which has received support from investors including Google and Amazon.
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SBF-invested AI startup Anthropic’s valuation has increased fivefold, giving FTX customers the opportunity to recover more money!
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In addition, FTX is also a major holder of the cryptocurrency Solana, which has risen by over 650% this year. Prior to FTX’s bankruptcy, the trading price of Solana was less than half of its current value.
FTX
SOL
Claims
Compensation
