TechFlow reported, according to Bloomberg, that the price of FTX's debt rose after news emerged that "FTX is negotiating with three bidders to restart the exchange." Cherokee Acquisition, a distressed asset investment firm, said quotes for larger FTX debt claims are now at 50 to 53 cents per dollar, up from the 40-plus cents range last week. Since FTX filed for bankruptcy last year, company executives have recovered approximately $7 billion in assets, and FTX debt prices have steadily increased over the past year. Major hedge funds have also been actively trading these claims, which include rights to FTX accounts and related loss compensation.
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