FTX Bankruptcy Settlement and CFTC Consent Order
Bankruptcy Court Approves Agreement
In a related settlement agreement approved by the Bankruptcy Court for the District of Delaware, FTX and Alameda Research have been ordered to pay $127 billion in monetary relief to FTX customers and victims of FTX's collapse.
US District Court Judge Gives Final Approval
A US District Court Judge has given the final stamp of approval for the settlement agreement. The order requires FTX and Alameda Research to distribute the funds to affected customers and victims as soon as possible.
CFTC Enters Consent Order
The Commodity Futures Trading Commission (CFTC) has also announced the entry of a consent order against FTX and Alameda Research. The order requires the companies to pay a $250 million civil monetary penalty and to cease and desist from further violations of the Commodity Exchange Act.
Agreement Reached with US Commodities Regulator
Bankrupt cryptocurrency exchange FTX and the United States commodities regulator have agreed to a settlement that will see the exchange pay $127 billion in monetary relief to FTX customers and victims of FTX's collapse.
Conclusion
The settlement agreements and CFTC consent order represent a significant step forward in the ongoing bankruptcy proceedings for FTX. The payments will provide much-needed relief to FTX customers and victims, and the CFTC's order will help to ensure that the companies are held accountable for their actions.
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