Distressed asset funds could buy FTX bankruptcy claims for 20% of face value in the private over-the-counter (OTC) market, a person familiar with the matter said, CoinDesk reported. Last November, FTX filed for bankruptcy. FTX currently owes $3.1 billion to the 50 largest creditors. Some public bankruptcy markets value FTX's distressed assets at approximately 16% of the face value of the claims. Up to $27 million in individual claims is being sold on the bankruptcy marketplace XClaim. An anonymous FTX creditor said that the pricing in the private OTC market is similar, with distressed asset funds buying between 15% and 20% of the face value of the claim. The funds are expected to recover their money within five years. If they end up funding 25% of the face value of the claim, that's not a good rate of return. But many companies expect to recover funds equivalent to 50% of the face value of claims. The source added that the deals were mostly done privately and that the "quality" of the claims was reflected in the valuations.