Chinese creditor throws shade at FTX's payout freeze for 'restricted' countries
10.07.2025
18276
A Chinese creditor isn't having it with FTX's move to pause payouts in countries with crypto restrictions. Over 300 folks are backing this play, saying 'Not so fast, FTX.'
A Chinese creditor, Weiwei Ji, just dropped a legal mic on FTX's attempt to freeze payouts in countries where crypto's a no-go. Despite chilling in Singapore, Ji's got a Chinese passport, so FTX tagged 'em as a Chinese creditor. Big oof.
Ji's crew? Over 300 deep, all saying FTX's play is whack. Their argument? Payouts are in USD, not crypto, and China's cool with digital assets as personal property. 'We jumped through all your hoops, now pay up,' Ji basically said.
FTX's shady payout freeze
FTX's like, 'We can't pay out in these 49 sketchy zones, or we might get fined or jailed.' They name-dropped places like China, Russia, and even Moldova, where crypto services are a straight-up crime. Bold move, FTX.
Repayments kicked off in February, but FTX's using November 2022 crypto prices. Some creditors are salty, calling it a lowball. Meanwhile, FTX's out here playing legal limbo with international payouts.
'My family's got four KYC-verified accounts with over $15M in claims. We played by your rules. Now you're ghosting us? Not cool.' - Weiwei Ji, probably
#Geopolitics#legislation#cryptocurrency exchanges#Cryptocurrency sanctions#regulation
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