FTX and CFTC Agree on $12.7 Billion Settlement

<h1 class="d-none">FTX Settles with CFTC for $12.7 Billion</h1> <h2 class="d-none">FTX To Pay $12.7 Billion In Settlement With CFTC</h2> FTX Settles with CFTC for $12.7 Billion

Cryptocurrency exchange FTX and the U.S. Commodity Futures Trading Commission (CFTC) have settled a significant legal dispute.

The settlement amount between FTX and CFTC totals $12.7 billion, marking the resolution of a 19-month legal battle.

Both FTX and CFTC have filed their agreement for settlement, pending final approval from the court.

The settlement includes $8.7 billion in penalties and $4 billion in restitution, agreed upon by Sam Bankman-Fried's FTX and the regulatory body.

The Delaware bankruptcy court is scheduled to review and potentially approve the settlement on August 6.

This settlement represents a significant milestone for FTX and highlights the ongoing regulatory landscape in the cryptocurrency industry.

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