Crypto players rush to tokenise bankruptcy claims of failed exchange FTX

Observers noted that given the string of crypto collapses last year, the market is flooded with creditors looking to cash out. PHOTO: REUTERS
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SINGAPORE - Some cryptocurrency players are counting on a new and risky idea – tokenising and trading bankruptcy claims – to resuscitate the space.

Mr Justin Sun, who leads Singapore-based crypto exchange Huobi Global, is the latest to tap the insolvencies market to create liquidity.

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