Based

Celsius

Fine

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 The recent surge in FTX claims is being attributed to its early investment in AI companies whose valuation has jumped in recent times.
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 The current <a rel="noopener noreferrer nofollow" title="claim" href="https://thebittimes.com/tag/claim.html">claim</a> pricing of FTX has reached a maximum of 57%, according to data from Claims Market. The increase in FTX’s <a rel="noopener noreferrer nofollow" title="claim" href="https://thebittimes.com/tag/claim.html">claim</a> pricing is attributed to the valuation of the Artificial intelligence (AI) companies that the now-bankrupt crypto exchange previously invested in.&nbsp;
 Creditors stake their claims to try to recoup some of their investment when businesses experience financial difficulties or bankruptcy. Based on their estimates of the total amount recovered, investors frequently trade these claims. There is an increase in the estimated recovery value when the pricing of a claim rises.
 <figure><img src="https://cdn.thebittimes.com/images/2023/11/03/c0bfe0bbac26064444f794a3bf2f1b10.webp">
 <figcaption style="text-align: center;">FTX claims. Source: Claims Market
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 As the value of FTX investment in these AI companies jumped, so did the potential amount that could be recovered from its bankruptcy procedure. A claim is a legal assertion of a certain monetary amount.
 The <a rel="noopener noreferrer nofollow" title="claim" href="https://thebittimes.com/tag/claim.html">claim</a> percentage value here refers to the amount of expected recovery from the platform. FTX <a rel="noopener noreferrer nofollow" title="claim" href="https://thebittimes.com/tag/claim.html">claim</a>s value jumped highest when compared to other bankrupt crypto firms such as Celsius with about 35-40%, Genesis with about 50%, Alameda at 10%, and Three Arrows Capital (3AC) with only 7% to 9%.
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 The surge in FTX <a rel="noopener noreferrer nofollow" title="claim" href="https://thebittimes.com/tag/claim.html">claim</a>s also comes amid former FTX CEO Sam BankFried’s public trial ending on Nov. 2 as the jury <a rel="noopener noreferrer nofollow" title="found" href="https://thebittimes.com/tag/found.html">found</a> the tainted CEO <a rel="noopener noreferrer nofollow" title="guilty" href="https://thebittimes.com/tag/guilty.html">guilty</a> on all seven charges. The judge in the case will announce sentencing in the case in March 2024.
 The FTX claims have been a major topic of discussion among the crypto community throughout the bankruptcy proceedings. Earlier, the judge in the case had allowed FTX to sell nearly $3.4 billion worth of crypto assets in the market to compensate creditors. With the rising price of cryptocurrencies and increasing valuation of companies that FTX invested in, the creditors stand a healthy chance of returning a significant chunk of their lost money from FTX.
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Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/ftx-claims-climb-to-57-as-sam-bankman-fried-found-guilty-on-all-counts-tbt68956.html">https://thebittimes.com/ftx-claims-climb-to-57-as-sam-bankman-fried-found-guilty-on-all-counts-tbt68956.html</a>

FTX claims climb to 57% as Sam Bankman-Fried found guilty on all counts

TheBitTimes

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