FTX отменяет спорное ограничение на выплаты для пользователей из проблемных стран FTX cancels controversial payment restrictions for users from problematic countries

Representatives of the bankrupt exchange FTX have withdrawn their request to limit payouts for users from 49 countries, including Russia and Ukraine. This information was shared by Sunil Kavoury, a representative of the largest creditor group associated with the platform.

However, the document indicates that the exchange may file a new application.

The initial plan was proposed in July and suggested freezing compensation for users from jurisdictions with ambiguous or restrictive cryptocurrency regulations. Other key points included appointing local attorneys to facilitate payouts, a 45-day period for contesting restrictions, and the cancellation of unresolved claims.

The «problematic» countries account for 5% of the total claims amounting to $16 billion, while 82% of the asset value is concentrated in China, totaling $380 million.

During a hearing on July 22, the court rejected the clause regarding the «immediate cancellation» of claims and required FTX to revise its plan. The ruling was also contested by 300 Chinese creditors, who argued that the exchange had no legal basis for including China among such jurisdictions.

A hearing regarding a lawsuit filed by attorneys representing FTX founder Sam Bankman-Fried (SBF) will take place on November 4 in the Second Circuit Court of Appeals in New York. They intend to contest the businessman’s conviction, who has been charged with seven criminal counts, including fraud.

SBF is currently serving a 25-year sentence in a California prison.

According to Bloomberg, Bankman-Fried’s defense claims that he was «wrongfully convicted as a result of hasty conclusions drawn by the media, prosecutors, the team that took control of FTX after its collapse, and Judge Lewis Kaplan, who issued the verdict.»

In the appellate documents, Kaplan’s position was criticized. The attorneys pointed to «systematic violations of procedural balance in favor of the prosecution» as a key reason for revisiting the case.

The defense presented the following arguments:

Concerns were raised not only about the prison sentence but also the decision to seek $11 billion in restitution from SBF. The defense emphasized the absence of malicious intent, highlighting the businessman’s belief in his ability to repay clients in full.

A separate point of criticism involves the preliminary questioning of the defendant without the presence of jurors. The attorneys argue that this created unequal conditions for both parties in the proceedings.

It is worth noting that at the end of October, SBF stated that FTX was solvent at the time of its collapse and denied accusations of fraud and misappropriation of client funds.