🚨FTX Major News Notification:

FTX has applied to the court for approval to implement a new "Restricted Handling Procedure" in 49 restricted allocation countries/regions (including China).
For these countries, FTX will hire local qualified lawyers to provide legal opinions.
• If the lawyer confirms that payment can be made legally → then payment can be issued normally.
• If the lawyer believes that legal compensation cannot be paid or has not provided a clear opinion → initiate the "restricted procedure."

For example, simply take China as an example:
If FTX cannot obtain legal opinions on legitimate payments in "China", it will ultimately be determined as a "restricted jurisdiction", and Chinese creditors will not receive compensation. Their share of compensation will be confiscated and returned to the FTX liquidation trust for distribution to legitimate creditors in other countries and regions.

🔒 Why do this?

Because the laws in these countries/regions prohibit or restrict cryptocurrency-related activities, such as:
• Cryptocurrency trading is not allowed;
• Transfers of digital assets to residents are not allowed;
• Using cryptocurrency may violate criminal law or be considered money laundering.

If FTX makes payments to creditors in these countries, it may violate local laws and even expose the trust's directors, executives, and distribution service providers to criminal liability.

📅 Upcoming key dates:
• Opposition deadline: July 15, 2025, 4:00 PM (ET)
• Court hearing date: July 22, 2025, at 9:30 AM (ET)

⏰If you are a creditor in these countries (especially mainland China), your compensation payment is currently in "disputed status".

FTX will issue a notice and give you an opportunity to raise an objection (within 45 days). If you disagree, you can submit a counter-argument and participate in a hearing.

⸻

These illegal allocation areas account for about 5% of the total debt claims, with China's share reaching as high as 82%.

Creditors who have completed the sale of their claims with me are not affected by this! All creditors who have not sold their claims should pay more attention to the risks brought by this FTX application!

DM me for any issues regarding FTX debt claims:

#FTX债权 # FTX claim