New York judge approves $12.7 billion settlement between FTX, Alameda, and the U.S. CFTC

BlockBeats news, August 8, according to Cointelegraph, a New York judge has finally approved the defunct cryptocurrency trading platform FTX and Alameda Research to repay $12.7 billion to FTX creditors. This move is part of a settlement with the U.S. Commodity Futures Trading Commission (CFTC).

In a document dated August 7, U.S. District Judge Peter Castel formally approved a $12.7 billion consent order reached by FTX and Alameda to resolve the CFTC's 20-month lawsuit.