Investors with claims on crypto platforms such as FTX exchange, Celsius Network, BlockFi, and Voyager Digital have reportedly been looking to sell their claims instead of continuing with a lengthy bankruptcy process.
According to data from Xclaim, a crypto claims trading start-up, around 10,000 of these claims have been listed for sale, primarily from creditors in China, Hong Kong, and Taiwan.
It has been reported that some hedge funds and debt investors, such as Contrarian Capital Management, Invictus Global Management, and NovaWulf Digital Management, have bought some of the claims.
Additionally, Celsius is said to be filing a motion to extend the deadline for submitting claims, which has been met with some criticism from community members.
Additionally, it has been reported that former FTX CEO Sam Bankman-Fried cashed out $684,000 after his release, with wallets allegedly connected to him being flagged for possibly breaking the condition of his release by spending more than $1,000 without permission.
