News with the tag "Creditors"

FTX creditors have found new hope due to a breakthrough in jurisdiction rules, which may allow more users to claim compensation from the collapsed exchange.

Backpack has launched a non-profit FTX debt marketplace to allow creditors to sell bankruptcy claims, amid FTX's $6.2 billion recovery progress, while facing challenges in restricted jurisdictions.

Chinese creditors of FTX are opposing the exchange's request to delay payouts, highlighting the complexities of the FTX bankruptcy case and the challenges of global crypto regulation.

FTX is seeking court approval to dispute claims from 49 restricted jurisdictions, with Chinese users accounting for 82% of the total value despite constituting only 5% of allowed claims, while facing legal hurdles in distribution.

FTX's creditor repayments are being withheld in 49 jurisdictions due to crypto restrictions, with China accounting for a significant portion of the frozen funds, while the overall repayment process shows progress despite these challenges.

FTX has begun repayments to creditors, offering hope after its collapse, with some creditors receiving up to 120% returns due to the appreciation of seized assets like Solana (SOL).