PANews, July 9, reported by CryptoSlate, over 500 Chinese creditors are filing objections in a U.S. court regarding FTX's freezing of $470 million in payments. FTX previously requested to postpone payments to users in 49 jurisdictions, including China, citing 'legal uncertainties in cryptocurrency.' Among the Chinese creditors, claims amount to $380 million, accounting for 82%.
Creditor representative Will stated that this group has submitted 35 written objections to the bankruptcy court and is seeking collective legal representation. They question FTX's unilateral change of terms after the reorganization plan was approved, arguing that this treatment based on nationality or regional differences undermines procedural fairness. FTX claims this action is to avoid legal risks associated with remittances to cryptocurrency-restricted regions.
