TechFlow news, according to Cointelegraph, FTX seeks to eliminate investor claims on so-called "Sam Coins," arguing that their value should be zero in the ongoing bankruptcy proceedings.
FTX attorney Brian Glueckstein stated that customer claims related to the travel platform Maps (MAPS), DeFi brokerage Oxygen (OXY), decentralized exchange Serum (SERUM), and Boba (BOBA) native tokens should be significantly discounted or reduced to zero.
FTX's valuation expert Sabrina Howel concluded that because the company holds over 95% of OXY and MAP tokens—once closely tied to SBF—it would take decades to liquidate them. Based on their analysis, FTX claims that claims associated with MAPS and OXY tokens—valued at over $600 million at current exchange rates—should be treated as worthless. Meanwhile, claims linked to SERUM tokens—worth $509 million—should be discounted by approximately 58%.
