BitcoinSistemi 2025-07-04 13:26:09

Bankrupt Cryptocurrency Exchange FTX Shocks Creditors with Decision! Payments Halted in 49 Countries Including China and Russia!

Refunds began in 2025 on the cryptocurrency exchange FTX, which suddenly went bankrupt in 2022, and in the last days of May, former FTX users reported that they had started receiving their long-awaited receivables. FTX officials announced that the second round of payments worth approximately $5 billion under the bankruptcy plan had officially begun. While FTX refunds were expected to continue gradually in the future, a new development occurred. FTX Recovery Trust has temporarily suspended payments to creditors in 49 foreign jurisdictions, Wu Blockchain reported. FTX is reportedly seeking court approval to honor creditor claims from users in 49 jurisdictions where cryptocurrencies are restricted or banned. According to a new filing with the U.S. Bankruptcy Court, FTX has designated 49 countries as “Restricted Foreign Jurisdictions,” including China, Russia, Ukraine, and numerous Asian and African countries. Claims from creditors in those 49 countries will no longer go through a standard payment process; they will go straight to contested claims. This means FTX creditors may have to fight an additional legal battle to get their money back. According to the new development, FTX has requested court approval to handle refund requests from 49 jurisdictions where cryptocurrencies are banned or restricted. If the court approves, payments will continue. Otherwise, payments will stop and affected creditors may object. FTX has asked the court to approve a new process for handling claims from 49 restricted jurisdictions, where crypto is banned or limited. If legal advice allows, payouts will proceed. Otherwise, affected claims may be disputed and denied. Over 82% of the value comes from Chinese… — Wu Blockchain (@WuBlockchain) July 4, 2025 *This is not investment advice. Continue Reading: Bankrupt Cryptocurrency Exchange FTX Shocks Creditors with Decision! Payments Halted in 49 Countries Including China and Russia!