Bankrupt cryptocurrency exchange FTX and the U.S. Commodity Futures Trading Commission (CFTC) have agreed to a $12.70 billion settlement and are currently awaiting approval from a Delaware judge.
According to court documents filed with the U.S. Bankruptcy Court in Delaware on July 12, the two companies have been in talks for the past several months. As part of the settlement agreement, the CFTC agreed that the CFTC would not collect any compensation as long as FTX complied with the restructuring plan. As a result, FTX will pay creditors up to $12.70 billion in compensation, depending on available funds.
A hearing on the settlement motion will be held on August 6.
FTX and CFTC agree to $12.70 billion settlement
2024-07-16 20:02:50
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