FTX Withdraws Motion to Limit Creditor Payouts, Eyes Potential Refiling

FTX has withdrawn its motion to limit creditor payouts, including significant claims from creditors in China, signaling a potential refiling in their bankruptcy process.

• The FTX Recovery Trust has officially withdrawn its motion to restrict creditor payouts, particularly affecting approximately $380 million in claims from creditors in China.
• This decision comes as part of FTXs ongoing bankruptcy proceedings, which aim to address the financial fallout from the defunct crypto exchanges collapse.
• Speculation arises that FTX may seek to refile its bankruptcy plan, potentially altering how it handles creditor distributions while navigating complex international claims.