The FTX verdict is out. US District Judge Peter Castel approved a $12.7 billion deal that requires the failed exchange FTX and its sister trade company, Alameda Research, to pay their debts.
On August 7, 2024, a verdict was issued that concludes a protracted legal dispute with the US Commodity Futures Trading Commission (CFTC), which originated after FTX’s sudden decline in late 2022.
The deal represents a significant stride in addressing the financial issues stemming from one of the biggest corporate disasters in the history of crypto.
With $8.7 billion reserved especially for investors misled by former CEO Sam Bankman-Fried, the proposed settlement calls for the whole $12.7 billion to be distributed to repaying FTX creditors.
BREAKING: FTX & ALAMEDA FINAL APPROVAL HANDED DOWN, ORDERED TO PAY BACK $12.7 BILLION TO FTX CREDITORS pic.twitter.com/kf3QlJVIuB
— Kyle Chassé (@kyle_chasse) August 8, 2024
Additionally surrendered as part of the arrangement will be the r
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