FTX withdraws controversial motion to restrict claims from customers in China and other regions
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FTX withdraws controversial motion to restrict claims from customers in China and other regions
According to The Block, FTX has withdrawn a controversial motion that could have resulted in the forfeiture of claims from customers in 49 jurisdictions including China, Russia, and Ukraine. The total claims from these regions amount to approximately $800 million, accounting for 5% of FTX's expected $16 billion distribution, with China representing as much as 82% of that amount.
Navigating Web3 tides with focused insightsTechFlow, November 4 — According to The Block, FTX has withdrawn a controversial motion that could have resulted in the forfeiture of claims from customers in 49 jurisdictions including China, Russia, and Ukraine. The total claims from these regions amount to approximately $800 million, representing about 5% of FTX's projected $16 billion distribution pool, with claims from China accounting for as much as 82%.
