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Opinion: Lack of Legal Basis for FTX Claims in USD for Chinese Users Due to Crypto Ban, FTX Creditors to be Settled in USD

Summary: According to Chinese crypto influencer @zhetengji, FTX creditors may not have legal basis to claim funds from Chinese users: FTX creditors are priced and settled in USD, currently in the distribution phase, unrelated to crypto regulation. There is no legal risk for Chinese citizens receiving USD compensation. FTX Recovery Trust lacks proper legal basis for ...

According to Chinese crypto influencer @zhetengji, FTX creditors may not have legal basis to claim funds from Chinese users:

FTX creditors are priced and settled in USD, currently in the distribution phase, unrelated to crypto regulation. There is no legal risk for Chinese citizens receiving USD compensation. FTX Recovery Trust lacks proper legal basis for this motion.

In the Celsius bankruptcy case, a US crypto company, creditors were compensated via bank wire transfer, with Chinese creditors receiving compensation smoothly. @zhetengji believes FTX can compensate Chinese creditors in a similar manner.

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Link: Opinion: Lack of Legal Basis for FTX Claims in USD for Chinese Users Due to Crypto Ban, FTX Creditors to be Settled in USD [Copy]

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