People Are Already Buying the Depositor Claims on FTX Group

It looks like some traders who have money stuck on the fallen cryptocurrency exchange FTX are already selling their claims in over-the-counter trading.

Thomas Braziel, the founder of 507 Capital, who has been active in past crypto bankruptcies, says he’s currently seeing claims being sold “between 5 cents and 8 cents on the dollar” in private offerings.

Braziel, who says he has purchased one $8 million FTX deposit at a price of 3 cents on the dollar, says there are a few key factors right now that help determine how much a theoretical FTX depositor can get on their ...