Krutika Adani
A Chinese creditor is challenging FTX’s plan to halt repayments to users in countries with restrictive crypto laws. The case was filed in U.S. Bankruptcy Court this week.
Creditor Weiwei Ji, based in Singapore, says their nationality unfairly classifies them as a Chinese claimant. Ji represents over 300 Chinese creditors with $15M+ in claims.
FTX seeks to pause payouts in 49 countries—including China, Russia & Zimbabwe—citing potential legal risks.
Ji argues Chinese law recognizes digital assets and USD payments.
Around 5% of approved claims are tied to restricted regions. With repayments underway, this battle may reshape how cross-border crypto bankruptcies unfold.