Figure Markets Launches Innovative FTX Claims Trading Platform for Enhanced Liquidity

  • Figure Markets has revolutionized the trading of FTX claims with a new platform aimed at increasing market liquidity.
  • The platform has witnessed over $4 billion in claims traded, yet this accounts for just a small fraction of total claims.
  • FTX proposes an IRS settlement amounting to $885 million, pending court approval.

Discover how Figure Markets is transforming FTX claim trading, boosting liquidity, and accelerating financial recovery for creditors.

Figure Markets Unveils Innovative FTX Claims Trading Platform

Figure Markets has introduced a cutting-edge trading platform dedicated to FTX claims, designed to provide greater liquidity and recovery opportunities for investors and creditors. This initiative is set to streamline financial recovery processes for individuals affected by the FTX bankruptcy irrespective of claim size.

Transparent and Inclusive Trading Environment

The platform offered by Figure Markets promotes transparency by making bids, offers, and trades visible to all participants. This approach grants FTX creditors and potential investors a comprehensive understanding of market dynamics. The trading environment is inclusive, catering to various claim classes such as Class 5, Class 7A, and Class 7B.

FTX’s Financial Reorganization and IRS Settlement

Simultaneously, FTX has reached a preliminary agreement to settle a substantial $24 billion claim with the United States Internal Revenue Service. Pending court approval, FTX aims to pay $200 million as a priority tax claim and $685 million as a subordinated claim.

This strategic move is aimed at mitigating legal threats while bringing more clarity and efficiency to the claims recovery process for creditors and customers. Under the proposed reorganization plan, claims of up to $50,000 would be reimbursed at a rate of 118%, potentially benefiting about 98% of all creditors.

Conclusion

Figure Markets’ new platform for trading FTX claims represents a significant advancement in enhancing market liquidity and transparency. Coupled with FTX’s proactive steps to resolve financial disputes and reorganize effectively, these developments provide a promising outlook for creditors seeking expedited financial recovery.

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