Investors seek to sell FTX, Celsius, BlockFi and Voyager claims

Rather than wait for a lengthy bankruptcy process, some investors, who have claims on FTX Exchange, Celsius Network, BlockFi and Voyager Digital, are looking to transfer their claims to others.

Data from crypto claims to start trading Xclaim Offers There are at least hundreds of investors affected by the recent crashes of FTX, Celsius, BlockFi and Voyager crypto platforms who don’t want to wait for a drawn-out bankruptcy process that doesn’t even guarantee they’ll be able to get something.

Investors have listed their claims for sale to get something out of it even though they may incur some losses in the process. At the time of writing, there are nearly ten thousand claims listed, with 9,072 claims on Celsius Network, 93 claims on Voyager, 67 claims on FTX and 23 claims on BlockFi.

Matt Siddig, Founder of Xclaim, He said In an interview with the major media outlet The Wall Street Journal they received calls from creditors from different parts of the world. According to the executive, two-thirds of claims published are from creditors based in China, Hong Kong and Taiwan.

Some hedge funds and debt investors have been shopping for claims. Companies such as Contrarian Capital Management, Invictus Global Management, and NovaWulf Digital Management have purchased some claims.

Related: FTX clients outside the US want private information removed from bankruptcy filings

Meanwhile, Celsius is preparing to propose Extends deadline for users to submit their claims. Some members of the community were unhappy with the extension, pointing to how lawyers get paid while creditors have to wait for a while.

In other news, former FTX CEO Sam Bankman-Fried has He reportedly spent $684,000 after his release. Wallets allegedly linked to Bankman-Fried have been reported, suggesting that the former CEO had broken one of the conditions of his release, which was not to spend more than $1,000 without permission.