Let me boldly speculate on the dire consequences if the court approves FTX's motion: This would set an extremely dangerous precedent—any overseas exchange could simply apply for bankruptcy in the U.S. and follow FTX's lead, arbitrarily designating China and 49 other countries as "restricted jurisdictions," legally seizing user assets without compensation. Ironically, this list is not determined by a judge, but can be created by them simply hiring a lawyer to draft a "legal opinion." Yes, what they want is the power to make this decision. This is not just a loss for Chinese creditors, but a systemic risk to the safety of global user assets in the entire cryptocurrency industry. If approved, the consequences will be devastating. #FTX #cryptocurrency #bankruptcy #digitalassets #CryptoLaw #ChineseCreditors #Web3 #judicialjustice