FTX Requests Court Approval to Process Claims for Users Restricted from Virtual Assets, Including China
Heecheol Yang
Summary
- FTX has requested court approval to separately process creditor claims from users in 49 jurisdictions with virtual asset restrictions.
- Wu Blockchain reported that if the claims are approved, the process will proceed, but if not, the claims may be objected to and denied.
- It was revealed that over 82% of the total claimed amount originated from Chinese users.
FTX, the virtual asset (cryptocurrency) exchange currently undergoing bankruptcy proceedings, has reportedly requested court approval to separately handle creditor claims from users in 49 jurisdictions where virtual assets are restricted or banned.
On the 4th (local time), Wu Blockchain reported, "According to legal review, if claims are approved in the restricted jurisdictions, the process will proceed; otherwise, the claims may be objected to and denied." The report added, "Over 82% of the total claimed amount from banned jurisdictions originated from Chinese users."
Previously, in November 2022, FTX filed for bankruptcy protection amid allegations of mismanagement and misuse of customer funds.
Heecheol Yang
heecheol@bloomingbit.ioHello, I'm a reporter at bloomingbit
