Xinhuo Technology: The recoverable ratio of FTX claim funds is expected to rise to approximately 70%

Hong Kong-listed company New Fire Technology announced that the market price for the recoverable amount of FTX deposits is based on the valuation of the exclusive agent's written offer received by the company in early October 2023, minus agency fees and other professional expenses, and the net amount that can be recovered is approximately 39.4% of the original amount. As the cryptocurrency market recovers, the company has received several competitive offers from potential transferees regarding the transfer of FTX claims. If the FTX claims can be transferred by the relevant transferees, the recoverable amount will increase from about 39.4% in September 2023 to about 70% in January 2024. It is reported that the frozen asset value of New Fire Technology on the FTX exchange is HKD 141.7 million.