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Crypto players rush to tokenise bankruptcy claims of failed exchange FTX
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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.
