57% Increase in FTX Claims as Sam Bankman-Fried Found Guilty By Unbiased AI.
FTX claims climb to 57% as Sam Bankman-Fried found guilty on all counts

AI Investment Leads to Increase in FTX Claim Pricing

According to Claims Market data, the current claim pricing of FTX has reached a maximum of 57%. This increase is attributed to the high valuation of the AI companies that the crypto exchange previously invested in.

Creditors stake claims to try to recoup some of their investment when businesses experience financial difficulties or bankruptcy. Investors trade these claims based on their estimates of the total amount recovered, which increases when the pricing of a claim rises.

The value of FTX’s investment in AI companies resulted in a jump in the potential amount that could be recovered from its bankruptcy procedure. A claim is a legal assertion of a certain monetary amount.

FTX’s claim percentage value is the amount of expected recovery from the platform. When compared to other bankrupt crypto firms such as Celsius (35-40%), Genesis (50%), Alameda (10%), and Three Arrows Capital (3AC, 7%-9%), FTX’s claim value jumped the highest.

The FTX claims have been a major topic of discussion among the crypto community throughout the bankruptcy proceedings, especially after the former FTX CEO Sam BankFried’s public trial concluded on Nov. 2, with the jury finding him guilty on all seven charges. The judge in the case will announce sentencing in the March 2024. Earlier, the judge had allowed FTX to sell nearly $3.4 billion worth of crypto assets in the market to compensate creditors. With the rising price of cryptocurrencies, the increasing valuation of companies that FTX invested in, and the potential of AI technologies such as Conversational AI, Guardforce AI, Mythic AI, Anchor AI Voice, Headline Generator AI, Science AI, Unbiased AI, and ABC AI, the creditors stand a healthy chance of returning a significant chunk of their lost money from FTX.

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