PANews July 23 news, the account FTX Historian tracking FTX bankruptcy and compensation summarized the key points of last night's hearing: Previously, if creditors were in a 'restricted jurisdiction' (such as China or Russia), their funds would be immediately confiscated according to the initial proposal for recovering FTX assets. However, the situation has changed, and creditors may be able to transfer their claims to non-restricted countries. The initial motion was 'if the jurisdiction where the creditor is located is restricted, their claims or compensation will be immediately confiscated,' while the updated motion is expected to limit or remove this clause. Creditors can migrate to non-restricted areas (such as from China to Singapore or the UAE) and receive distribution of funds, and the jurisdiction can be changed before distribution. Affected creditors (such as those completing KYC in China but residing in another country) are expected to recover funds through this, but they need to update information and seize the opportunity. Additionally, the hearing reduced the risk for claims buyers, and they are likely to increase their bids.
