FTX and CFTC Agree to $12.7 Billion Settlement Pending Court Approval

Jul 16, 2024, 07:13 PM

FTX and the Commodity Futures Trading Commission (CFTC) have agreed to a $12.7 billion settlement after months of negotiations. The settlement includes $8.7 billion in restitution and $4 billion in disgorgement, aimed at repaying creditors directly. No civil monetary penalties were imposed as part of the agreement. The settlement is subject to court approval and resolves a 19-month lawsuit.