The bankruptcy criptocurrency exchange pays a significant amount for creditors in more than twenty countries, including FTX Ukraine.
Crypto investors of more than 20 customers including Ukraine, China and Russia are not eligible for FTX distribution, an FTX creditor, Sunil Kavuri, noted One x post On 21 February.
In the post, Kavuri attached a graph to the hearing of the November 2022 insolvency. The chart showed that after FTX collapse, China created 8%of the exchange’s user base, only for the Virgin Islands (11%) and the Cayman Island (22%). Overall, 26 countries, including Ukraine, Russia, Belarus and Iran, are excluded from payment, which are being controlled by Bitgo and Crackon.
While the exact cause behind those boundaries is not clear, it is believed that regulatory barriers and boundary pay payment issues are potential factors.
In October 2024, FTX said it was recovered between $ 14.7 billion and $ 16.5 billion in property for distribution. The exchange had earlier estimated that it had given about $ 11.2 billion to the creditors. Under the scheme approved by Delaware Insolvency Judge John Daisi, 98% FTX creditors have been scheduled to receive 119% of their permitted claims by November 2022, when the exchange collapsed.
FTX went bankrupt in November 2022. The collapse of the company was affected by allegations of fraud and mismanagement, aimed at both the exchange and its sister company, Almeda Research.
