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- GT Airdrop Is Live! 1.92M GT Burned in Q2, Worth Over $39M
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Essay Content Directio
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Over 500 Chinese creditors question the $470 million payment freeze related to FTX in a U.S. court.
On July 9, according to Cryptoslate, more than 500 Chinese creditors have questioned the U.S. court regarding the $470 million payment freeze by FTX, with an increasing number of Chinese creditors confronting FTX in U.S. courts over withheld distribution funds. A Chinese creditor using the pseudonym Will stated in an interview that he has hired a U.S. lawyer, and over 500 Chinese creditors are organizing a response to FTX's decision. These creditors believe that FTX has violated earlier commitments, having been explicitly informed that as long as they submit claims and vote in favor of the restructuring plan, they would be entitled to distributions like other users, but are now being denied the compensation they deserve due to nationality or legal uncertainties.