Loading...
Market
What will be the first major legislative action taken by the US government in response to the FTX and Alameda case?
2
Resolution / Starting Odds
New crypto regulation • 25%
Increased penalties for fraud • 25%
Enhanced trading restrictions • 25%
No major action • 25%
Legislative records, official announcements
Story
New York Judge Approves $12.7B Settlement in FTX, Alameda 20-Month Lawsuit
Aug 8, 2024, 11:42 AM
A New York judge has approved a $12.7 billion settlement involving defunct crypto exchange FTX, its sister firm Alameda Research, and the United States Commodity Futures Trading Commission (CFTC). This settlement concludes a 20-month legal battle and mandates FTX and Alameda to repay $12.7 billion to FTX creditors, including $8.7 billion to investors defrauded by founder Sam Bankman-Fried. The settlement also includes a ban on both firms from trading cryptocurrencies and acting as market intermediaries. The CFTC has emphasized the need for further crypto legislation following this landmark ruling.
View original story
Similar markets
New lawsuits filed • 25%
Settlements reached • 25%
Bankruptcy proceedings conclude • 25%
No major developments • 25%
New lawsuit filed • 25%
Settlement reached • 25%
Bankruptcy declared • 25%
No major legal action • 25%
Lawsuit against another exchange • 25%
Settlement with another creditor • 25%
Government investigation • 25%
No major legal actions • 25%
Criminal charges • 25%
Civil lawsuit • 25%
Settlement • 25%
No action • 25%
Ryan Salame's Sentence Reduced • 25%
Michelle Bond Indicted • 25%
New Charges Against Another Executive • 25%
No Further Actions • 25%
New cryptocurrency regulations • 25%
Amendments to IEEPA • 25%
No legislative response • 25%
Other legislative action • 25%
New sanctions on Russia • 25%
Increased export controls • 25%
Diplomatic actions • 25%
No additional actions • 25%
Transfer to CFTC • 25%
New SEC guidelines • 25%
Bipartisan bill • 25%
No major action • 25%
Additional charges against executives • 25%
Sentences reduced • 25%
Executives exonerated • 25%
No significant legal changes • 25%
Release FOIA information • 25%
Settle with Coinbase • 25%
No significant action • 25%
Other • 25%
Increased regulation • 25%
Decreased regulation • 25%
No change • 25%
Complete ban • 25%