There’s also fairly robust market for (at least larger) real-money claims against FTX with prices around 35-40 cents on the dollar. I’d expect recovery to be somewhat higher in nominal dollars, because it may take some time for distributions to occur and that is presumably priced into the market price. (Anyone with a risk appetite for buying large FTX claims probably thinks their expected rate of return on their next-best investment choice is fairly high, implying a fairly high discount rate is being applied here.)
There’s also fairly robust market for (at least larger) real-money claims against FTX with prices around 35-40 cents on the dollar. I’d expect recovery to be somewhat higher in nominal dollars, because it may take some time for distributions to occur and that is presumably priced into the market price. (Anyone with a risk appetite for buying large FTX claims probably thinks their expected rate of return on their next-best investment choice is fairly high, implying a fairly high discount rate is being applied here.)