New York judge approves FTX and Alameda to repay $12.7 billion to creditors
According to TechFlow news, on August 7th, New York judge Peter Castel officially approved a $12.7 billion consent order requiring the bankrupt cryptocurrency exchange FTX and its affiliated trading company Alameda Research to repay this amount to FTX creditors. This is part of a settlement reached with the US Commodity Futures Trading Commission (CFTC), ending a 20-month lawsuit.Earlier news reported that FTX and the US Commodity Futures Trading Commission (CFTC) had reached a $12.7 billion settlement agreement, pending approval by a Delaware judge. The settlement agreement includes $8.7 billion in restitution and $4 billion in disgorgement. A hearing will be held on August 6th.
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