According to Coindesk, US District Judge Peter Castel approved the $12.7 billion settlement for FTX creditors.
Accordingly, the dominant FTX officially signed the agreement between Alameda Research and the US regulator CFTC; This means $12.7 billion will be repaid to FTX creditors.
According to this approval, FTX and Alameda will pay $12.7 billion to creditors and the 20-month-long lawsuit filed by the CFTC will end.
While it is noteworthy that the CFTC does not request any criminal sanctions within the scope of the agreement, this means that the entire amount of $ 12.7 billion will be used directly to repay FTX creditors.
The decision also does not include any administrative sanctions, but FTX and its sister company Alameda are prohibited from trading digital assets and acting as an intermediary in the market.
FTX's sudden bankruptcy in late 2022 caused investors to lose billions of dollars. The CFTC then filed a lawsuit against FTX and Alameda, alleging fraud and misrepresentation. The CFTC alleged that the company's actions caused customers to lose $8 billion.
