FTX claims have risen above 100 cents on the dollar following the estate’s draft recovery plan that estimates the majority of creditors will see a recovery rate of 118%.

For instance, crypto bankruptcy site Xclaim shows that FTX claims are now going for between 101% and 112%.

“It's absolutely unbelievable,” said Thomas Braziel, a partner at 117 Partners and 507 Capital and an investor in distressed assets. “I mean, Lehman was 141 cents on the dollar, and that took 10 years. This is 142% as the projected high number. For the majority in terms of number of creditors, there's still some stuff to iron out but claims are pricing over 100; even small claims are basically pricing up to 100.”

Braziel said claims have been picking up since the draft plan went out, with interested parties …