Xclaim lists $200 million in marketplace for crypto bankruptcy claims

By Sarah Lizee

Olympia, Wash., Jan. 19 – Several customers of cryptocurrency exchanges, including FTX Trading Ltd., BlockFi Inc., Celsius Network LLC and Voyager Digital Ltd., have listed their accounts for sale, representing over $200 million of crypto assets, on an independent trading platform for crypto assets locked by bankruptcy.

The platform, called Xclaim and founded in 2018, enables crypto account holders to recover the market value of accounts that are inaccessible during the pendency of bankruptcy.

Xclaim operates a marketplace for crypto traders to unlock the value of their frozen accounts by settling their accounts for cash.

“While bankruptcy can be a painstakingly slow and complex process, Xclaim offers a market-based solution for account holders to access immediate liquidity,” the company said in a press release.

Currently, about $30 billion of crypto bankruptcy claims are held by more than 15 million account holders globally.

Xclaim said that by connecting buyers and sellers of these frozen accounts in a competitive marketplace, market participants have access to the most accurate data and are transacting at open-market prices.

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