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FTX, Alameda Ordered to Pay $12.7B to Creditors by U.S. Judge
The order doesn't include civil penalties but bans FTX and its sister concern, Alameda, formerly a heavyweight crypto market maker, from trading digital assets and acting as intermediaries in the market.By Shaurya Malwa
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Aug 8, 2024 at 2:44 a.m. EDT
Updated Aug 8, 2024 at 5:41 p.m. EDT
FTX and trading firm Alameda Research will pay $12.7 billion to creditors after the approval of a consent order by a New York judge, ending a lawsuit from the Commodity Futures Trading Commission.
The order bans FTX and Alameda from trading digital assets and acting as intermediaries in the market, but does not include civil penalties.
Defunct crypto exchange FTX and trading firm Alameda Research will pay $12.7 billion to creditors as a New York judge officially approved a consent order on Wednesday, ending a 20-month-long lawsuit from the Commodity Futures Trading Commission (CFTC).
https://www.coindesk.com/policy/2024/08/08/ftx-alameda-ordered-to-pay-127b-to-creditors-by-us-judge/