FTX drops ‘restricted countries’ motion but warns it may refile

The FTX Recovery Trust has withdrawn its motion that sought court authorization to freeze distributions to creditors in 49 countries with potentially restrictive crypto laws, including China, which holds approximately $380 million in claims. This withdrawal, filed without prejudice, follows intense pushback from creditors, evidenced by at least 70 objections filed in bankruptcy court. Creditors view this as a victory but remain vigilant, warning that the fight is not over. The FTX estate noted that if it decides to renew the request for restricted jurisdiction procedures, it will file a new motion with proper notice. Meanwhile, some creditors expressed concern that the planned 143% fiat repayment does not adequately compensate for losses in crypto-denominated terms.

(Source：Cointelegraph)