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Multicoin Capital Is in Talks to Sell Roughly $100M FTX Bankruptcy Claim: Source
Positive news around the FTX bankruptcy has seen claims being sold for upward of 70 cents on the dollar, now climbing towards the eighties.
Updated Mar 9, 2024, 2:15 a.m. Published Feb 5, 2024, 7:57 p.m.
Cryptocurrency investment firm Multicoin Capital is in talks to sell its FTX bankruptcy claim, which has a value of roughly $100 million, according to a person familiar with the plans.
Positive news around the FTX bankruptcy has seen claims being sold for upward of 70 cents on the dollar and climbing towards the eighties.
Firms like Multicoin, inadvertently caught up in the FTX collapse, have been approached by claims buyers for over a year now, and with the potential bids rising, these firms are weighing the opportunity cost of capital and opting to sell sooner rather than later.
Read more: FTX Expects to Fully Repay Customers but Won't Restart Defunct Crypto Exchange
Multicoin Capital declined to comment.
Ian Allison
Ian Allison is a senior reporter at CoinDesk, focused on institutional and enterprise adoption of cryptocurrency and blockchain technology. Prior to that, he covered fintech for the International Business Times in London and Newsweek online. He won the State Street Data and Innovation journalist of the year award in 2017, and was runner up the following year. He also earned CoinDesk an honourable mention in the 2020 SABEW Best in Business awards. His November 2022 FTX scoop, which brought down the exchange and its boss Sam Bankman-Fried, won a Polk award, Loeb award and New York Press Club award. Ian graduated from the University of Edinburgh. He holds ETH.
