The FTX crisis has escalated into a legal battle between bankrupt crypto exchanges and firms whose assets are stuck on its platform. Before FTX froze assets withdrawal, many crypto firms couldn’t recover their funds from the exchange. As a result, many firms have announced a potential financial crisis if their funds remain unrecovered. Several Users are in a panic due to their funds. However, the latest report revealed that Cherokee Acquisition, a distressed asset investment firm, has given users options to sell their credit claims. But the users can only recover a fraction of their total assets holdings. Related Reading: This Indicator Hints US Investors Sold Bitcoin Harder Than Others During Crash Cherokee Acquisition has a marketplace for credit claims against bankrupt companies like FTX Exchange. The firm placed a guide price on a dollar of FTX user’s deposit claims above $100,000 in the new price table released on November 15. The guide price is between 8 to 12 cents on every dollar of the deposit claims. This is an option for FTX’s creditors who cannot wait t ..
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