Alameda claim in OTC market

1

Been noticing several providers offering competitive rates OTC for Alameda claims.
Seems that the current pricing for OTC claims is about 58-68% and trending up as quoted by cherokee aquisition (https://claims-market.com/)

Im curious if theres a certain number here that would make it more sensible to sell the claim rather than pursue our own actions and pay legal fees that rack up. Would love to hear the team’s take on this.

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2

Does TrueFi have any direct exposure to Alameda? As I recall, all their loans were repaid fortunately.

3

@capitalm and @Codeknight Thank you both for your questions. Taking those questions in reverse order they came in:

  1. The Alameda Single Borrower Pool that is on TrueFi (obviously closed and no longer active) had a meaningful loan (approximately $7.5 million including principal and interest due) to Alameda at the time of the bankruptcy. TrueFi did not as a protocol/DAO have any direct exposure to Alameda.

  2. Acting as agent for the lenders to assist with the recovery of the claim (which was filed with bankruptcy court handling the combined FTX and Alameda cases), Archblock as been closely monitoring the OTC claims market for Alameda. We do have a well informed and expertly advised by outside counsel point of view on the trade off of selling the claim for the lenders versus waiting until a later pre-distribution time or waiting until distribution to claimants. We will keep the community (and by extension the lenders to the Alameda Single Borrower Pool) updated on our thoughts and actions as time progresses. We have not at this time moved toward selling the Alameda claim on behalf of the lenders.

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