FTX

ChainCatcher news, the account FTX Historian tracking the FTX bankruptcy and compensation situation, posted a summary of last night's FTX hearing on X. The core content of the hearing is: For creditors in "restricted jurisdictions" (such as China), their funds will not be immediately confiscated as proposed in the original FTX recovery plan, but creditors will be allowed to transfer to non-restricted jurisdictions.FTX Historian further stated that for affected creditors, such as those who completed KYC in China but now reside in other jurisdictions like Singapore, this may be a pathway to claim compensation, although it may require further information updates and more time costs.

ChainCatcher news, FTX's former CEO and co-founder SBF stated in an interview with the New York Sun while in Brooklyn prison that he believes he was wrongfully convicted.SBF said his biggest mistake was allowing Sullivan & Cromwell law firm to take over FTX in November 2022. He indicated that he should have continued to handle the liquidity issues instead of letting the firm take over and mislead clients.As a result of this decision, millions of clients were told that their funds were depleted and had to wait two years before they started receiving payments, while SBF believes that these funds should have been safe from the beginning.