Buying FTX Bankruptcy Claims | Prof G Markets
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- Опубліковано 25 вер 2023
- This week on Prof G Markets, Scott discusses the latest family drama in the FTX saga, and explains how he plans to make money off of the company’s bankruptcy claims.
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Damn, now 5 months later the claims market is buying claims for ~85% and Scott bought it for 27% which means his bet paid off for close to 500K. What a boss :D.
I keep hearing that we’ll get our funds back and I hear the opposite. Do you know if and when we can actually get our funds back? I did my claim but what’s next?
Part of your claim money is on a Ledger Nano in an office drawer or safe deposit box somewhere. How the F do you find it, and then find the passwords?
Lol "XRP, whatever that is"
Those class a crypto assets can be sold over the counter (O T C). By doing it that way they have no impact on exchange spot market prices. Also you mention some of the tokens tether. Tether is a stable coin pegged 1 to 1 to the US dollar so it's zero risk token.
Tether is not “zero risk.” Currency pegs are very flawed and usually end poorly. Let’s say that inflows for Tether fall but the dollar remains strong. Tether then must use its reserves to buy Tether to increase the price to parity with the dollar. This is not a new idea, many countries have tried similar schemes throughout history, it usually ends in a currency crisis where the central bank (in this case Tether) runs out of reserves and by result the peg disconnects from the thing it’s pegged to, causing more selling and further devaluation. This is called a currency crisis.
he overpaid, the guys/hedgefund doing it in scale who I spoke to were doing buying at 15%, Only 5% upfront on proof of claim 5% after all forms signed & submitted, final 5% on a pay out in the 2-3 yr time. May as well wait it out was my approach.
XRP is Ripple and is one of the biggest out there. You could sell a lot and not move the market.