• CoinShares earned a $39.78 million profit by selling its FTX claim, yielding a remarkable 116% recovery rate.
  • The FTX claim sale return will boost CoinShares’ financial health, benefiting shareholders and clients.

CoinShares International, a prominent European digital asset investment company, has finalized the sale of its claim against the defunct FTX exchange. This sale is expected to yield a remarkable recovery rate of 116% after broker fees. This translates to a substantial return of approximately $39.78 million on a claim initially valued at $33.6 million.

The agreement underscores CoinShares’ strategic move amidst the volatile crypto landscape, marking a significant financial boost following earlier setbacks. Notably, the firm had reported losses amounting to $21.7 million earlier linked to its exposure to Terra (LUNA) during the second quarter of 2022.

However, the recovery from the FTX claim is poised to strengthen the company’s financial position . That will deliver substantial benefits to its shareholders and clients.

On the other hand, bitFlyer, a major Japanese cryptocurrency exchange, recently announced its acquisition of FTX Japan. The bitFlyer Holdings will rebrand FTX Japan under a new name, New Custody Company until a permanent name is decided.

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