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CoinShares, a European investment company focused on digital assets, has hit the jackpot with the sale of its claim against the bankrupt crypto exchange <a href="https://www.coingabbar.com/en/crypto-currency-news/ftx-creditors-demand-sbfs-property-in-legal-petition" title="FTX" class="f-link" style="font-size: 16px; background-color: rgb(255, 255, 255);" rel="noopener noreferrer nofollow">FTX</a>. The company announced that it's set to receive an incredible 116% return on its original claim, beating all expectations. 
Let me explain in simple terms. CoinShares had a claim worth about $33.78 million (or 26.6 million British pounds) against FTX. Now, they're selling this claim for $39.78 million (31.32 million pounds). That's a 116% return, which means they're getting back all their money plus a nice bonus on top.
This deal is still waiting for final approval, but it's looking good for CoinShares. The company's CEO, Jean-Marie Mognetti, is understandably thrilled. He called it an "exceptional recovery rate" and praised his team's hard work in making it happen.
<h3 id="span-span-data-font-font-size-style-font-size-16px-what-does-this-mean-for-coinshares-span-span">What Does This Mean for CoinShares?</h3>
So, what does this mean for CoinShares and its customers? Well, the company plans to use this unexpected windfall to grow its business and improve services for its clients. They're talking about reinvesting the money to strengthen their position in the market and possibly offer better returns to their shareholders.
This good news comes as a relief for CoinShares, especially after some tough times in the recent past. Back in 2022, the company took a big hit when it lost $21.7 million due to its involvement with Terra, another crypto project that failed. Despite that setback, CoinShares managed to stay operational and now seems to be bouncing back stronger than ever.
The crypto world has been on a rollercoaster ride lately, with the collapse of big players like FTX sending shockwaves through the industry. But CoinShares' success story shows that there might be light at the end of the tunnel for some companies caught up in these bankruptcies.
Speaking of FTX, there's more news on that front. Over in Japan, a local crypto exchange called BitFlyer is planning to buy FTX's Japanese branch. They're going to rename it first to "New Custody Company" before deciding on a permanent name. This deal is reportedly worth millions of dollars, showing that there's still value to be found in the remains of FTX's global operations.
What does all this mean for the average person interested in crypto? First, it's a reminder that the crypto world is still full of surprises. Companies can sometimes recover money that seemed lost, and bankrupt exchanges can find new owners willing to give them a second chance.
It also highlights the importance of choosing trustworthy platforms and companies to deal with in the crypto space. CoinShares' ability to not only recover its losses but come out ahead is partly due to its team's expertise in navigating these tricky situations.
<h4>For CoinShares</h4>
For CoinShares' clients and shareholders, this news is particularly good. The company's plans to reinvest the recovered funds could mean better services and potentially higher returns in the future. It's a sign that despite the ups and downs of the crypto market, some companies are finding ways to turn lemons into lemonade.
However, it's worth remembering that the crypto world remains volatile and unpredictable. While CoinShares' success story is encouraging, it doesn't guarantee similar outcomes for everyone involved in crypto bankruptcies or disputes.
<h4>Conclusion</h4>
CoinShares' 116% profit from its FTX investment is a rare bit of good news in the sometimes chaotic world of cryptocurrency. It indicates that with a good strategy and a little luck, companies can occasionally find positives even when things seem bleak. As the <a href="https://www.coingabbar.com/en/crypto-blogs-details/your-crypto-journey-starts-here-buy-learn-and-invest" title="crypto world" class="f-link" rel="noopener noreferrer nofollow">crypto world</a> grows and becomes more stable, we might see more success stories like this one, which could boost confidence in the future of digital assets.
Also read - <a href="https://www.coingabbar.com/en/crypto-currency-news/slowmist-reveals-a-crypto-scam-exploiting-the-toncoin-ton" title="Crypto Scam" class="f-link" rel="noopener noreferrer nofollow">Slowmist Reveals a Crypto Scam Exploiting The Toncoin (TON)</a>

CoinShares' Incredible Success – 116% Return on FTX Claim

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Інші статті, опубліковані 24 черв. 2024 р.

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