FTX Claim Sale Nets CoinShares 116% Return
CoinShares, a digital asset investment firm, has announced the successful sale of its claim against FTX.
The deal, pending standard closing conditions, will yield a recovery rate of 116% after broker fees, resulting in a substantial $39.6 million return on a $33.6 million claim.
This transaction significantly bolsters CoinShares‘ financial flexibility, enabling reinvestment in growth opportunities and strengthening its market position.
CEO Jean-Marie Mognetti highlighted the favorable recovery rate, attributing it to the team’s diligence and expertise.
READ MORE: Ethena Labs Updates Roadmap for ENA Token Growth and Stability
The resolution of the FTX situation marks a positive outcome amidst bankruptcy concerns, with creditors expected to recover their funds.
However, objections have arisen from some FTX customers, who argue against the planned distribution of assets. The FTX Customers Ad Hoc Committee has voiced dissent, advocating for the return of their cryptocurrency instead of cash payments.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
