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FTX Whale: Some "Debt Agents" or intermediaries are suppressing debt prices by selling anxiety, with estimated arbitrage opportunities of 20% to 30%.
BlockBeats News, July 7th, FTX major creditor Will (@zhetengji) said in an interview with BlockBeats: "If a third-party institution acquires your debt, your original country of ownership will no longer be considered when determining eligibility for compensation. Some creditors suggest selling their debt to addresses with regulatory compliance qualifications. Some so-called 'debt agents' or intermediaries, especially a considerable number of whom are Chinese, continuously sell anxiety to the community during this process, create panic through various means, and thus depress the debt price. In such an environment, many originally very anxious friends are forced to choose to sell their debt at a low price."
"The conservative estimate of the arbitrage space may be between 20% to 30%. In FTX's bankruptcy settlement, the debt is calculated based on an annual accumulation of 9% interest, so the final amount to be recovered depends on the time dimension and the scale of asset recovery."
The full interview has been published on the BlockBeats website in the article "When FTX Chinese Creditors Are Discriminated Against, How to Reclaim 380 Million?".
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