FTX finally making some progress thanks to AI revolution
, the cryptocurrency exchange that filed for bankruptcy at the end of 2022, is showing signs of financial recovery that could be a game-changer for its creditors. According to Claims Market, the current expected payment ratio for creditors' claims against FTX has soared to an astonishing 35%-40%. This is a significant leap from the meager 12% that was projected at theof the year. What does this mean for the average investor and the cryptocurrency community at large? Let's dive in.
The total amount of claims against FTX currently stands at a staggering $16 billion. On the flip side, the company's consolidated assets are valued at around $7 billion. While these numbers may seem daunting, the recent spike in the expected payment ratio is a glimmer of hope for creditors. A payment ratio of 35%-40% means that creditors can now expect to recover a much larger portion of their claims, which is a significant improvement and a sign of potential recovery for FTX.
One of the key drivers behind this positive shift is FTX's investment in Anthropic, an AI company that recently completed a massive financing round. The valuation of Anthropic has skyrocketed, indirectly boosting FTX's asset value and, consequently, the expected payment ratio for creditors. According to Claims Market, the current expected payment ratio of creditors' claims against FTX is 35%-40%, which is the highest value since FTX's bankruptcy at the end of 2022, far exceeding the 12% at the beginning of the year.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Yes, Capital One class action settlement payment emails are realVERIFY viewers asked if emails they recently received from ‘EpiqPay’ are legitimate. Here’s how to be sure you’re not getting scammed.
Read more »
This Week In Credit Card News: Testing In-Car Payments; The Future Of Wearable Payment DevicesWhat took place this week in the credit card and payment industries
Read more »
Aurora police warn of contactless payment scam at gas station pumpsPolice say thieves are damaging the contactless payment screens and placing skimmers on the credit card readers
Read more »
FTX founder’s plea for temporary release should be denied, prosecution saysThe government asked the judge to deny the renewed motion, saying that the claims made by SBF do not outweigh the “danger posed” by the release conditions.
Read more »
SBF TRIAL: Inside Sam Bankman-Fried's Trial Defense Episode 3Did FTX’s Collapse Happen According to His Rival’s Plan?
Read more »