FTX Seeks Court Approval for Restricted Jurisdiction Claims as 82% of Value Comes from Chinese Users

Key Points

1. FTX seeks court approval to dispute claims from 49 restricted jurisdictions, with Chinese users representing 82% of the total value but only 5% of allowed claims.

2. Chinese creditors face legal hurdles despite regulatory clarity, with claims settled in USD and legal objections raised due to local restrictions.

3. FTX has distributed $6.2 billion across two major payment rounds, with varying payout percentages for different claim types (e.g., 72% for Dotcom Customer Entitlement Claims, 54% for US Customer Entitlement Claims).

4. The exchange added Payoneer as a third official distributor alongside BitGo and Kraken to expand payment accessibility.

5. FTX lawyers successfully defended against a $1.5 billion claim from Three Arrows Capital, dismissing it as 'baseless.'

6. Former FTX CEO Sam Bankman-Fried remains imprisoned until 2044, while celebrity endorsers like Shaquille O'Neal have settled lawsuits tied to the exchange's collapse.