FTX China creditor representative Will details personal experiences and rights protection actions

Will, a major creditor of FTX in China, recently accepted an interview, detailing his personal experiences during the FTX incident, the process of asset loss, and the potential impact of FTX's latest motion for "restricted judicial jurisdiction" on Chinese creditors.

Will stated that he entered the cryptocurrency field in 2017 and has been involved in various businesses, including fund management, exchange work, and mining operations. Before the collapse of FTX, Will transferred more than 90% of his assets to the FTX platform, mainly due to his trust in FTX and concerns about other exchanges potentially leaking user information.

After the bankruptcy of FTX, Will, as a large creditor, participated in the election for the Unsecured Creditors' Committee, but ultimately was not elected. Currently, FTX has conducted two rounds of debt repayment, but Chinese creditors have not received any compensation.

The latest motion on "restricted jurisdictions" has sparked strong opposition from Will. The motion lists 49 "crypto-unfriendly" countries, including China. If the motion passes, creditors in these countries may not be able to obtain compensation, and their funds will be redistributed to other creditors.

Will believes that there are serious problems with this motion:

1. The legal opinion letter issued by FTX through its own lawyer may lack impartiality.
2. The motion will make Chinese creditors a minority group, whose rights may be overlooked.
3. The legal basis for the motion is tenuous, and there is a misleading interpretation of Chinese regulations.
4. Ignoring the essence of debt as dollar-denominated debt, rather than virtual currency.

To this end, Will is taking the following actions:

1. Form a Telegram group and unite other Chinese creditors.
2. Submit an objection letter to the judge before July 15.
3. Officially submit legal objections through American lawyers.

Will call on more creditors to participate in the action against the motion to protect their rights and interests. He emphasized that even receiving US dollar wire transfers and other alternatives through overseas accounts is feasible, and FTX should not deprive Chinese creditors of their right to compensation on the grounds of payment difficulties.

In the end, Will stated that although selling the debt may be an option, he believes that he will not easily give up before exhausting all legal avenues. He hopes that this action can secure fair treatment for Chinese creditors.