FTX's stranded customer funds draw attention from distressed asset investors
Credit investment firms are looking to buy claims from bankrupt crypto exchange FTX's clients who could otherwise wait years for bankruptcy courts to decide payouts. Opting to collect money now means settling for massive losses.
Apollo Global Management and Attestor are among the better-known investors to have held conversations on buying claims, according to a person familiar with the discussions. Niche investment firm 507 Capital has already purchased several claims from hedge funds that wanted quick exits from FTX even if it meant selling out at less.
Source
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