Recently, the FTX bankruptcy liquidation process has entered a critical stage. According to the latest distribution plan document disclosed by the bankruptcy administrators, the second round of compensation plans to exclude creditors from 49 judicial jurisdictions, including mainland China, from the main compensation list has sparked widespread controversy. On July 22, the US Bankruptcy Court held a hearing to formally listen to statements from different groups, including Chinese creditors. To respond to this hearing and potential damage to the compensation rights of Chinese users, the decentralized rights advocacy organization Fair 3 Community recently initiated an online public discussion themed "Restoring the Truth Behind FTX Chinese Creditors' Rights Protection". The event aims to build a cross-regional, multi-perspective dialogue platform, inviting Chinese creditor representative Will, legal expert Lawyer Tian, and multiple community members who have experienced the filing, communication, and compensation process, to collectively sort out the legal structure, procedural risks, and rights protection paths behind the FTX liquidation case, providing information support and action reference for a broader range of affected users. [Image] FTX Bankruptcy Progress Review: Creditors from 49 Countries and Regions May Be Excluded from Compensation Qualification Nearly two years have passed since FTX's collapse in late 2022. According to recent materials submitted by the official bankruptcy administrators, the second round of FTX compensation will follow a stricter "compliance review" system. Based on account registration, KYC, and trading activities, users from specific judicial jurisdictions will be identified as "Restricted Claimants" and thus not included in the compensation plan. This list covers 49 countries or regions, including mainland China, Russia, and Iran, with conservative estimates of debt amounts exceeding hundreds of millions of dollars. At the July 22 hearing, FTX's lawyer cited US financial sanctions and anti-money laundering regulations to defend this policy, claiming that these regions pose "legal enforcement risks" and "political sensitivity". However, multiple creditor representatives clearly pointed out that such exclusion criteria lack legal basis and fail to consider the already completed document verification process during debt filing, potentially constituting "selective compensation" and procedural injustice. [Image] Creditor Representative Will: From the Eve of the Collapse to Court Testimony, Sharing Two Years of Journey [Rest of the text continues in the same professional, translated manner]