Bankruptcy Bombshell: FTX and Alameda to Shell Out $12.7B to Creditors
In a significant turn of events for the cryptocurrency industry, a court ruling has ordered the embattled crypto exchange FTX and its affiliate, Alameda Research, to allocate a substantial sum of $12 7 billion toward creditor compensation This verdict, issued by a judge in New York, concludes a comprehensive 20-month legal saga spearheaded by the Commodity Futures Trading Commission (CFTC), framing a precedent-setting moment for regulatory actions within the crypto space US Judge rules on FTX creditor repayment FTX emerged as a pioneering entity among cryptocurrency exchanges to enter bankruptcy in 2022, a development that sent shockwaves through the digital asset market Following this financial debacle, the U...
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