The bankrupt exchange seeks court approval for a claims framework affecting creditors from 49 jurisdictions, including China and Russia, amid ongoing recovery efforts.
FTX has filed for court approval of a new claims process impacting creditors from 49 jurisdictions where cryptocurrency is banned or restricted. This proposal could influence billions in recoveries, particularly from users in China, and classifies claims from these areas as disputed unless legal advice permits payouts. Affected users will be notified and given 45 days to object. The plan has faced criticism from creditors who deem it discriminatory, and it awaits bankruptcy court approval.