Bloomberg: FTX creditors' claims are attracting interest from investment giants, with valuations typically between 5% and 13% of face value

According to ChainCatcher news, citing informed sources from Bloomberg, the claims of FTX Group creditors are attracting interest from large distressed asset investment firms, with companies like Baupost Group and Oaktree Capital inquiring about the claims of FTX customers whose assets are trapped on the exchange. Citigroup Inc., Cowen Inc., and Seaport Global Holdings LLC are trying to act as intermediaries in this emerging market.

Jay Conklin, managing partner of FTX claims brokerage Park Walk LLC, expects more and larger transactions to occur. However, for now, the claims being traded are relatively small, with negotiations rising for accounts holding $100 million or more. Valuations are mostly between 5% and 13% of face value, and prices are increasing as investor interest grows. (Source link)