- Bank To The Future founder highlights cryptocurrency claims pricing and credit protection for debtors.
- FTX, Celsius, Voyager, BlockFi, Genesis, and 3AC offer varying percentage bids for Chapter 11 claims.
- Genesis Global charges the highest among claimants, demanding 50% to 55% for claims worth more than $5 million.
Bank To The Future founder Simon Dixon posted a tweet highlighting cryptocurrency claims pricing and credit protection for debtors in today’s market. “This is what a Chapter 11 claims exchange sent me asking if I wanted to invest in one of the Chapter 11 claims,” the financial expert explains.
Dixon’s tweet revealed sophisticated investors’ interest in Chapter 11 claims. The tweet includes a screenshot of a claims swap request, offering investment opportunities in claims related to various companies , such as Celsius, Voyager, FTX, BlockFi, Genesis and 3AC.
For context, Chapter 11 is a bankruptcy filing that allows companies to reorganize their debts while continuing to operate. Creditors can file claims for money owed to them by the bankrupt company.
According to the image shared by Dixon, FTX Trading Ltd. asks 25% to 28% for claims over $5 million. Meanwhile, claims between $1 million and $5 million bid for 20% to 25%, and claims under $1 million bid 18% to 21%.
Similarly, Celsius Network is asking 22% to 26% and 20% to 24% for claims over $5 million and under $1 million and $5 million, respectively. Claims under $1 million, go for bids around 20% to 24%.
Voyager Digital Holdings is asking for 20% to 25% for claims over $5 million. Additionally, Voyager charges 20% to 24% for claims between $5 million and $1 million, while charging 20% to 25% for claims under $1 million.
In comparison, BlockFi Inc.’s requests are more reserved. For example, it charges 15% to 18% for claims over $5 million, under $5 million, $1 million, and under $1 million.
3AC loans are also in the same boat with a constant offer of 7% to 9% for the three aforementioned categories.
However, Genesis Global charges the highest among its competitors demanding 50% to 55% for claims worth $5 million and above. Additionally, claims between $1 million and $5 million are billed with a bid of between 45% and 50%.
The post Bank To The Future Founder Shares Insights On Crypto Claim Pricing appeared first on Coin Edition.
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