Opinion: Seizing Chinese users' FTX claim funds due to a crypto ban lacks legal basis; FTX claims are denominated and settled in USD.
Powered by ChatGPTChinese crypto KOL @zhetengji commented on the "FTX creditors claiming that the claims funds of Chinese users may be confiscated" incident, saying: "FTX's claims are denominated and settled in USD, and are now in the payout distribution stage, which has nothing to do with Cryptocurrency regulation. There is no legal risk for Chinese citizens to receive USD compensation. The FTX Recovery Trust's motion has lacked legitimate legal basis from the beginning. In addition, in the Celsius bankruptcy case, which was also an American Cryptocurrency company, they compensated creditors through bank wire transfers, and Chinese creditors also successfully received compensation." @zhetengji believes that FTX can compensate Chinese creditors in the same way. [Foresight News]