Multicoin Capital, the crypto investment firm that was caught up in the aftermath of FTX’s collapse in 2022, is said to be in talks to sell its bankruptcy claim on the firm, which is supposedly valued at around $100 million.

A person familiar with the matter disclosed Multicoin’s plans to CoinDesk, which first reported the news, although executives at the firm declined to comment on the story. 

Multicoin was one of the crypto firms involved in the contagion that followed FTX’s collapse in late 2022. At the time of FTX’s bankruptcy, around 10% of Multicoin’s total assets under management were stuck on the exchange.

In a letter to limited partners in November 2022, Multicoin revealed that its fund was impacted by the collapse of FTX and its sister firm Alameda Research both directly and indirectly.

Multicoin held assets on FTX, as well as held positions in tokens like FTT, SOL and SRM – all of which saw massive drawdowns at the time. 

Meanwhile, the FTX bankruptcy estate has recovered a substantial amount of liquid assets, with which it intends to pay back creditors, having now abandoned plans to restart the exchange.

The plan to repay creditors has drawn a fair amount of criticism, given that the claims will be valued at the price of the underlying assets at the time that FTX filed for Chapter 11 bankruptcy protection on Nov. 11, 2022. 

Still, with the end to bankruptcy seemingly in sight, claims on FTX are changing hands at over 70 cents on the dollar.