Investors Bet Big on FTX Bankruptcy Claims, Pouring Millions into Distressed Assets
• Investors spending hundreds of millions on FTX bankruptcy claims, betting recovered money • Thomas Braziel brokering hot market in FTX claims, with some selling for over 70 cents per dollar • Initial despair over FTX failure gives way to trading frenzy in bankruptcy claims • Investors gambling on FTX's prospects in bankruptcy court, funneling gains back into crypto • $1-1.5 billion in FTX claims traded since bankruptcy began according to Xclaim