News Explorer — FTX Estate Unable to Pay Out $500M to Customers in Restricted Jurisdictions

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Jul 4, 9:03 am

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FTX Estate Unable to Pay Out $500M to Customers in Restricted Jurisdictions

The FTX Recovery Trust is facing obstacles in paying out some $500 million to customers due to laws restricting or prohibiting crypto activity in 49 jurisdictions. The majority of the affected claims are in China, where FTX was never legally authorized to operate.

The FTX Recovery Trust is facing obstacles in paying out some $500 million to customers due to laws restricting or prohibiting crypto activity in 49 jurisdictions. The majority of the affected claims are in China, where FTX was never legally authorized to operate.

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