The FTX collapse struck a resounding fear amongst the global crypto landscape. The trust was almost completely eroded in exchanges and a flood of funds came off platforms worldwide. Bitcoin and others prices tanked as questions grew around the long term validity of Cryptocurrencies. The fear was real.
Fast forward 12 months and Bitcoin hit almost new all time highs, several Bitcoin ETF’s have been approved and the optimism has returned. Unfortunately though the losses remain from the likes of the FTX and Celsius collapses – enter the online Claims Market.
Websites such as Claims Market allow:
Sellers
Can list their claims on the site, and upload necessary documents. Sellers can also review other Sellers’ asking prices.
Buyers:
Can scroll through the claims offered and select which claims they would like to bid for or purchase. All offered prices are executable.
What this does is it curate’s all claims offered, and only list scheduled or allowed claims which will be offered for sale on the site for sale. Essentially providing online liquidity for the claims market. Several other providers are entering this field to try and capitalise on the increasing losses that are seen in industries like Crypto.
To date creditors have sold $345,283,544.28 of claims through Claims Market in 409 transactions.
