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FTX’s Growing Cash Pile Sparks Dash for Shares in Defunct Firm

From bnnbloomberg.ca

Investors are trying to buy up shares of defunct crypto exchange FTX on the off chance that equity holders could see a recovery if victims who lost billions are made whole. Funds holding creditor claims — which FTX looks more and more likely to repay in full — have also sought to buy preferred shares in the closely held company in recent months, according to people with knowledge of the matter. Brokers have been trying to source the preferred equity from its current holders in order to meet the demand, said the people, who asked not to be named discussing the private efforts. Such a trade would have seemed ludicrous ... (full story)

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