FTX and Alameda Research agree to a $12.7 billion payout to creditors, settling a CFTC lawsuit and receiving a permanent ban from trading digital asset commodities.
Points
- FTX and Alameda Research settle CFTC lawsuit, agreeing to a $12.7 billion payout.
- The CFTC waived civil monetary penalties to maximize creditor repayment.
- Both entities are permanently banned from trading digital asset commodities.
- The settlement includes $8.7 billion in restitution and $4 billion in disgorgement.
FTX and Alameda Research have reached a settlement agreement with the Commodity Futures Trading Commission （CFTC）, agreeing to repay $12.7 billion to creditors. This settlement, which received final court approval on August 7, resolves allegations of fraud and misrepresentation brought against both entities.
As part of the settlement, the CFTC opted to waive civil monetary penalties, ensuring that the entire $12.7 billion will be directed towards repaying FTX creditors. The payout includes $8.7 billion in restitution and an additional $4 billion in disgorgement.
The settlement also permanently bars FTX and Alameda from trading digital asset commodities, marking a significant consequence for the companies. This legal resolution aims to provide maximum relief to creditors and hold FTX and Alameda accountable for their actions.
The agreement underscores the importance of regulatory oversight in the cryptocurrency market and the need for transparency and accountability among digital asset companies. It also serves as a reminder of the potential legal risks associated with fraudulent activities in the crypto space.
解説
- Restitution: Compensation paid to victims of fraud or other wrongdoing.
- Disgorgement: The repayment of ill-gotten gains as a result of illegal or unethical activities.
- Digital asset commodities: Digital assets like cryptocurrencies that can be traded as commodities.