Celsius

<p class="p1" style="text-align: justify">According to data analysis platform Claims Market, the current demand pricing of FTX has reached a maximum of 57%. This increase in pricing on the FTX side is attributed to the valuation of artificial intelligence (<a href="https://newslinker.co/category/ai/" data-wpel-link="exclude">AI</a>) companies that the bankrupt crypto exchange previously invested in. So, what can we expect in the coming months? Let’s take a closer look.</p> 
<h2 class="p1" style="text-align: justify" id="ftx-s-increasing-valuation">FTX’s Increasing Valuation</h2> 
<p class="p1" style="text-align: justify">In bankruptcy cases like FTX, creditors make claims in an attempt to recover a portion of their investments when businesses face financial difficulties or declare bankruptcy. In this process, investors often resolve these claims through swaps based on their estimates of the total amount recovered. An increase in the value of a claim also leads to an increase in the estimated recovery value.</p> 
<p class="p1" style="text-align: justify">In the case of FTX, as the value of its investments in AI companies increases, the potential amount of assets that can be saved from bankruptcy proceedings continues to grow. The term “claim” refers to the legal demand for a specific monetary amount.</p> 
<p class="p1" style="text-align: justify">The percentage of demand value in this case represents the expected recovery amount from the platform. Compared to other bankrupt crypto firms such as Celsius with approximately 35-40%, Genesis with around 50%, Alameda with 10%, and Three Arrows Capital (3AC) with only 7% or 9%, FTX seems to have claimed the highest value.</p> 
<p><img decoding="async" class="aligncenter wp-image-273199 size-full" src="https://coin-turk.com/wp-content/uploads/2023/11/ftx-veri.webp" alt="" width="686" height="382"></p> 
<h2 class="p1" style="text-align: justify" id="what-s-happening-in-the-legal-process">What’s Happening in the Legal Process?</h2> 
<p class="p1" style="text-align: justify">The increase on the FTX side came amidst the ongoing public trial that ended on November 2nd with the former FTX CEO Sam Bank-Fried being found guilty of all seven charges by the jury. The judge presiding over the case will announce the verdict to the public in March 2024.</p> 
<p class="p1" style="text-align: justify">The allegations raised by FTX during the bankruptcy proceedings have sparked significant debate within the crypto community. Previously, the judge in the case allowed FTX to sell approximately $3.4 billion worth of crypto assets traded in the market to make payments to creditors.</p> 
<p class="p1" style="text-align: justify">In recent times, as the price of cryptocurrencies has been on the rise and the value of the companies invested in by FTX has also increased, creditors have taken another step towards recovering a significant portion of their lost assets from FTX.</p> Continue Reading: <a href="https://en.coin-turk.com/ftxs-valuation-soars-amidst-bankruptcy-proceedings/" data-wpel-link="internal">https://en.coin-turk.com/ftxs-valuation-soars-amidst-bankruptcy-proceedings/</a>

FTX’s Valuation Soars Amidst Bankruptcy Proceedings

Table of Contents

COINTURK NEWS

Other articles published on Nov 3, 2023

ADA Price Prediction – 10% Surge In Two Days, Bulls Aim For $0.35

Michael Saylor’s Bold Bitcoin Prediction: BTC Price Set to Surge 10x

Tellor’s X Account Hacked, Posts Fake TRB Airdrop Links

Vigilant Ops Wins 6th Annual DataTribe Cybersecurity Challenge

Ethereum’s Price in the Swing, More Ups or Downs?

Hong Kong to Regulate Stablecoins and Expand Virtual Asset Transaction Supervision!

Join our free newsletter for daily crypto updates!