Hedge Funds Buy and Sell FTX Claims on Cherokee Acquisition at High Prices!

The post Hedge Funds Buy and Sell FTX Claims on Cherokee Acquisition at High Prices! appeared first on Coinpedia Fintech News

Distressed investment firm Cherokee Acquisition, which went bankrupt during the pandemic, has seen a rise in the price of its claims. Trading platform FTX has noted that claims on Cherokee are now quoted at 50 to 53 cents on the dollar. FTX, which went bankrupt as well, has been recovering billions of dollars in assets, causing the price of their claims on Cherokee to rise. Additionally, major hedge funds have been actively buying and selling these claims. The steady increase in the value of Cherokee claims is a positive sign for investors looking to put money into the distressed asset market.

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