FTX settles with CFTC! $4 billion in claims trail customers, creditors

This site (120bTC.coM): Sunil Kavur, representative of the FTX creditor group, stated on the X platform earlier today (13th) that FTX has reached a settlement with the U.S. Commodity Futures Trading Commission (CFTC).

A court document on July 12 showed that the district court ordered that the CFTC’s $4 billion claim will be ranked after all creditor claims and interest, and the money paid to the CFTC will be transferred to the Supplementary Return Fund.

The Supplementary Return Fund means that after interest + all creditors are compensated, the government will return confiscated assets to the adversely affected victims.

Sunil pointed out that creditors holding cryptocurrencies were particularly seriously harmed when the FTX thunderstorm occurred, so it is appropriate to use the fines that should have been paid to the CFTC to compensate severely damaged cryptocurrency holders.

“District Court Judge Kaplan ordered FTX to return $4 billion (in penalties paid to the CFTC) to creditors and repay $8.7 billion.”

The above is the detailed content of FTX settles with CFTC! $4 billion in claims trail customers, creditors. For more information, please follow other related articles on the PHP Chinese website!