* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, July 4, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    MAY HER SOUL REST IN PEACE 🙏 Veteran entertainment columnist and talent manager Lolit Solis has passed away. She was 78 years old. https://tinyurl.com/6kumarkx | LatestChika.com – Facebook

    Beloved Entertainment Icon Lolit Solis Passes Away at 78 – A Life Remembered with Love and Respect 🙏

    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    Nantucket Dance Festival opens July 8 – The Inquirer and Mirror

    Nantucket Dance Festival Launches with Thrilling Performances Beginning July 8

    A Secret Society, Ritualistic Killings, and a Century-Old Curse Netflix and YRF Entertainment’s ‘Mandala Murders’ Premieres July 25 – About Netflix

    A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

    Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

    LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Owls inspire new revolutionary noise reduction technology – KTEN

    Owls inspire new revolutionary noise reduction technology – KTEN

    New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

    Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

    MAY HER SOUL REST IN PEACE 🙏 Veteran entertainment columnist and talent manager Lolit Solis has passed away. She was 78 years old. https://tinyurl.com/6kumarkx | LatestChika.com – Facebook

    Beloved Entertainment Icon Lolit Solis Passes Away at 78 – A Life Remembered with Love and Respect 🙏

    Neil Young Plays Rare Full-Band ‘Ambulance Blues’ With The Chrome Hearts – Yahoo

    Neil Young Stuns Fans with Rare Full-Band Performance of ‘Ambulance Blues’ Alongside The Chrome Hearts

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    BTS Announce Their Big Return and Yes, They Already Have Some Major Plans in the Works – Yahoo

    Nantucket Dance Festival opens July 8 – The Inquirer and Mirror

    Nantucket Dance Festival Launches with Thrilling Performances Beginning July 8

    A Secret Society, Ritualistic Killings, and a Century-Old Curse Netflix and YRF Entertainment’s ‘Mandala Murders’ Premieres July 25 – About Netflix

    A Secret Society, Ritualistic Killings, and a Century-Old Curse: Dive into the Chilling World of ‘Mandala Murders’ Premiering July 25

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

    Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

    LG Innotek CEO Moon Hyuksoo: “Our Next-gen Substrate Technology Will Change the Industry Paradigm” – TechPowerUp

    LG Innotek CEO Moon Hyuksoo: “Our Next-Gen Substrate Technology Will Revolutionize the Industry” Revolutionizing the Future: LG Innotek’s CEO Unveils Game-Changing Next-Gen Substrate Technology

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Inspira Technologies Secures Landmark $22.5M Deal: Major Revenue Breakthrough After FDA Clearance – Stock Titan

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Meiwu Technology Company Limited and Shenzhen Zhinuo – GlobeNewswire

    Owls inspire new revolutionary noise reduction technology – KTEN

    Owls inspire new revolutionary noise reduction technology – KTEN

    New center coming to Mizzou will focus on energy research and technology – Columbia Missourian

    Mizzou Launches Innovative New Center Dedicated to Energy Research and Technology

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

FTX Settles with CFTC for $12.7 Billion

July 19, 2024
in Business
FTX Settles with CFTC for $12.7 Billion
Share on FacebookShare on Twitter

Reading Time: 2 minutes

FTX and the CFTC have reached a $12.7 billion settlement agreement over fraud charges
The CFTC filed a complaint in 2022 against FTX, its former CEO, and Alameda Research, accusing them of fraud, causing $8 billion in losses
The agency  has initially sought a $52.2 billion claim, but the proposed settlement has significantly reduced this amount

Bankrupt cryptocurrency exchange FTX and the US Commodity Futures Trading Commission (CFTC) have reached a $12.7 billion settlement agreement, pending approval from a Delaware judge. The CFTC filed a complaint against FTX, its former CEO Sam Bankman-Fried, and the affiliated company, Alameda Research, in 2022, accusing them of fraud that resulted in $8 billion in customer losses. Initially, the agency sought a $52.2 billion claim, but the proposed settlement significantly reduces this figure.

“Fraud and Material Misrepresentations”

The CFTC brought is claim in December 2022, charging all three defendants with “fraud and material misrepresentations in connection with the sale of digital commodities in interstate commerce.” The agency demanded the huge sum, but was always going to be open to negotiations.

Indeed, a court document filed on July 12 in the US Bankruptcy Court for the District of Delaware reveals that months of negotiations have taken place, with the sum of $12.7 billion being agreed by both parties and submitted for judicial approval.

The court filing emphasizes the importance of this settlement for FTX’s chapter 11 reorganization plan:

The Proposed Settlement is an integral and valuable component of the Debtors’ proposed chapter 11 reorganization plan. It resolves ongoing litigation and disputes with one of the largest creditors of the Debtors, avoids the cost and delay of further litigation, and mitigates a significant risk of diminution of the assets available for distribution to creditors.

As part of the settlement, the CFTC has agreed to forgo its recovery, contingent on FTX’s compliance with its reorganization plan. Consequently, FTX will allocate up to $12.7 billion to its creditors, based on available funds. Andy Dietderich, a partner at Sullivan & Cromwell and lead counsel for the FTX Debtors, explained, “In this bespoke settlement, the CFTC foregoes its own recovery against FTX in order to supplement the recoveries of customers and cryptocurrency lenders beyond the levels typical in chapter 11 cases.”

Some Creditors Oppose Rehabilitation Plan

The settlement divides the $12.7 billion into $8.7 billion in restitution and $4 billion in disgorgement, with the disgorgement amount being subordinated to the claims of all other creditors. The court document also highlights that the CFTC is the “most significant single creditor” in FTX’s Chapter 11 bankruptcy cases.

FTX filed for bankruptcy in late 2022, unveiling its reorganization plan in May 2023. The plan aims to provide 98% of its creditors with at least 118% of their allowed claims. Creditors with claims under $50,000 would be eligible for 118% compensation upon court approval.

However, some creditors, particularly those representing FTX’s largest creditor group, have opposed the plan, arguing for compensation in the form of cryptocurrencies rather than their dollar value at the time of bankruptcy filing. Votes on the reorganization plan are due by August 16.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : FullCrypto – https://fullycrypto.com/ftx-settles-with-cftc-for-12-7-billion?utm_source=rss&utm_medium=rss&utm_campaign=ftx-settles-with-cftc-for-12-7-billion

Tags: billionbusinesssettles
Previous Post

Prophet Brandon Briggs Predicts XRP Price Explosion To $10,000

Next Post

Bribery Conviction for Anti-bitcoin Senator

Bridge Point Tacoma permit and settlement – Washington State Department of Ecology (.gov)

Bridge Point Tacoma permit and settlement – Washington State Department of Ecology (.gov)

July 4, 2025
Accelerated data-driven materials science with the Materials Project – Nature

Accelerated data-driven materials science with the Materials Project – Nature

July 4, 2025
Downtown Louisville, Ky., gets new lifestyle hotel – hotelmanagement.net

Downtown Louisville Welcomes Exciting New Lifestyle Hotel

July 4, 2025
Romer: Finding common ground in a divided world – VailDaily.com

Romer: Building Bridges to Unite a Divided World

July 4, 2025
The Republican Budget Bill Is an Economy Killer – Bloomberg.com

The Republican Budget Bill Is an Economy Killer – Bloomberg.com

July 4, 2025
Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

Kennedy Publishing, MGA Entertainment Launch Yummiland Magazine – License Global

July 4, 2025
Trump says his 6th phone call with Putin this year ‘didn’t make any progress’ – PBS

Trump says his 6th phone call with Putin this year ‘didn’t make any progress’ – PBS

July 4, 2025
Environmental cognitive distance, R&D capability distance, and supply chain green technology innovation – Nature

Bridging Gaps: How Environmental and R&D Differences Drive Green Technology Innovation in Supply Chains

July 4, 2025
Penn State Ranks Inside Top Five in EA Sports College Football 26, QB Drew Allar Makes Rating Jump – Yahoo Sports

Penn State Ranks Inside Top Five in EA Sports College Football 26, QB Drew Allar Makes Rating Jump – Yahoo Sports

July 4, 2025
Church adds Mass ‘for care of creation’ to missal, pope to celebrate – usccb

Pope Introduces New Mass Dedicated to Caring for Creation

July 4, 2025

Categories

Archives

July 2025
MTWTFSS
 123456
78910111213
14151617181920
21222324252627
28293031 
« Jun    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (705)
  • Economy (731)
  • Entertainment (21,619)
  • General (15,709)
  • Health (9,768)
  • Lifestyle (735)
  • News (22,149)
  • People (731)
  • Politics (738)
  • Science (15,947)
  • Sports (21,228)
  • Technology (15,714)
  • World (711)

Recent News

Bridge Point Tacoma permit and settlement – Washington State Department of Ecology (.gov)

Bridge Point Tacoma permit and settlement – Washington State Department of Ecology (.gov)

July 4, 2025
Accelerated data-driven materials science with the Materials Project – Nature

Accelerated data-driven materials science with the Materials Project – Nature

July 4, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version