Unprecedented Move: FTX Creditors Harness Tokenized Claims for Mysterious DeFi Loans

In a groundbreaking development within the decentralized finance (DeFi) sector, a creditor of the now-bankrupted crypto exchange FTX has utilized a tokenized claim as collateral for a loan. The transaction, facilitated by the DeFi protocol Arcade, marks the first on-chain loan backed by an FTX claim.