US EditionCrypto exchange FTX ordered to pay $12.7 billion to customers, US CFTC says
- A United States court has ordered bankrupt Cryptocurrency Exchange FTX to pay $12.7 billion in relief to its customers, according to the Commodity Futures Trading Commission.
- The repayment order is part of a settlement involving bankruptcy liquidation to repay customers whose deposits were locked during FTX's late 2022 collapse.
- FTX claims customers will receive 100 percent recovery of their claims based on account values at the bankruptcy filing time.
26 Articles
26 Articles
US court orders bankrupt crypto platform FTX to pay $12.7 bn to customers, users not happy
FTX has stated that it is committed to providing 100 per cent recovery on customer claims, based on the value of their accounts at the time of the bankruptcy filing. This repayment plan is part of the broader bankruptcy liquidation process
FTX, which became the second largest cryptocurrency platform in the world until its bankruptcy at the end of 2022, and its investment subsidiary Alameda, must pay up to $12.7 billion to its former clients, the United States Financial Products Regulatory Authority (CFTC) announced on Thursday. A federal court in New York also ordered both companies to reimburse $8.7 billion to their former clients, as well as an additional $4 billion to compensat…
Sam Bankman-Fried’s FTX Ordered to Pay Nearly $13 Billion to Defrauded Customers
A judge has approved a settlement between the Commodity Futures Trading Commission (CFTC) and FTX, the defunct crypto exchange founded by convicted fraudster Sam Bankman-Fried, that involves $12.7 billion in compensation paid by FTX to defrauded customers. The settlement, filed on Aug. 8 at the U.S. District Court for the Southern District of New York, requires FTX to pay $8.7 billion in restitution and $4 billion in disgorgement, which will be …
Co-founder and boss of FTX, Sam Bankman-Fried, known as SBF, was sentenced on 28 March to 25 years in prison and to return 11 billion dollars for one of the worst financial frauds in recent history.
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