The bankrupt cryptocurrency exchange FTX is requesting a postponement in a Delaware court to address over 90 objections against its plan to suspend repayments in certain foreign jurisdictions. This request, termed the 'Motion for Leave,' aims to provide the FTX estate with additional time to argue its case for halting payments to creditors in restricted areas. A hearing is set for Tuesday to discuss the initial motion that sparked the legal conflict. The estate noted that the numerous objections received necessitated more time to prepare a comprehensive response. The original motion sought to stop repayments to countries with unclear or strict cryptocurrency regulations, as proceeding could lead to fines, personal liability for executives, or even criminal charges. This situation impacts creditors across 49 countries, with claims totaling $470 million, predominantly from Chinese residents. Some creditors have criticized the estate's efforts, expressing concerns that the proposed process could diminish their claims significantly. Read more AI-generated news on: https://app.chaingpt.org/news