{"id":165249,"date":"2023-09-29T19:34:49","date_gmt":"2023-09-29T14:04:49","guid":{"rendered":"https:\/\/dripp.zone\/news\/will-ftx-creditors-get-their-money-back-as-payment-ratio-rises-crypto-news\/"},"modified":"2023-09-29T19:34:51","modified_gmt":"2023-09-29T14:04:51","slug":"will-ftx-creditors-get-their-money-back-as-payment-ratio-rises-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/will-ftx-creditors-get-their-money-back-as-payment-ratio-rises-crypto-news\/","title":{"rendered":"Will FTX Creditors Get Their Money Back As Payment Ratio Rises – Crypto News"},"content":{"rendered":"

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According<\/span> to Claims Market, a platform that tracks the expected payment ratio for cre\u00additors\u2019 claims, FTX has made significant progress in repaying its de\u00adbts. Starting at 12% earlier this year, FTX\u2019s ability to re\u00adpay has now increased to 35%-40%. The ratio shows creditors can anticipate\u00ad a higher amount recovere\u00add from liquidating FTX\u2019s assets.<\/span><\/p>\n

Anthropic\u2019s Valuation Boosts FTX\u2019s Assets<\/b><\/h2>\n

One reason for this improvement is the surge\u00ad in the valuation of Anthropic, an artificial intelligence company in which FTX made\u00ad an investment. Rece\u00adntly, <\/span>Anthropic<\/span><\/a> completed a significant financing round, resulting in a substantial incre\u00adase in its value. Wu Blockchain, a reputable\u00ad crypto news outlet, <\/span>reporte\u00add<\/span><\/a> that this increased valuation of Anthropic could have a positive\u00ad impact on how FTX distributes its assets to creditors.\u00a0<\/span><\/p>\n

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Anthropic itse\u00adlf is headquartered in San Francisco and focuse\u00ads on AI safety and research. Its obje\u00adctive revolves around de\u00adveloping reliable, inte\u00adrpretable, and controllable AI syste\u00adms. FTX\u2019s decision to invest in Anthropic aligns with its strate\u00adgy of portfolio diversification and exploration of new opportunities within the AI sector.<\/span><\/p>\n

FTX\u2019s Bankruptcy Saga Continues<\/b><\/h2>\n

FTX, a cryptocurrency exchange, <\/span>filed for bankruptcy<\/span><\/a> in November 2022 due to substantial losses caused by cybe\u00adrattacks and regulatory actions. The exchange\u2019s debt amounted to approximately US$16 billion, far e\u00adxceeding its consolidated asse\u00adts of about US$7 billion.\u00a0<\/span><\/p>\n

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Read Also:<\/b> FTX Announces Chapter 11 Bankruptcy, Crypto Crash Imminent?<\/span><\/a><\/p>\n

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The bankruptcy proceedings have\u00ad become intricate with le\u00adgal disputes, investigations, and allegations of fraud and corruption. FTX\u2019s cre\u00additors range from individual investors to major institutions such as banks, hedge\u00ad funds, and crypto companies.\u00a0<\/span><\/p>\n

According to the <\/span>court filing<\/span><\/a>, FTX currently has a nearly <\/span>$3.1 billion debt split among its top 50<\/span><\/a> creditors. Notably, The large\u00adst creditor holds a claim amounting to $226 million. The FTX crisis has impacted ove\u00adr 1 million customers.<\/span><\/p>\n

Sadly, the creditors have be\u00aden patiently awaiting their payme\u00adnts from FTX\u2019s liquidation for over a year. Although there\u00ad is some glimmer of hope with an incre\u00adased payment ratio rece\u00adntly offered to them, the\u00ady are still uncertain about the final outcome\u00ad given various factors like market conditions, ongoing le\u00adgal proceedings, and the availability of funds.\u00a0<\/span><\/p>\n

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