BANKMAN-FRIED’S FTX ORDERED TO PAY USD12.7 BILLION TO FRAUD VICTIMS
August 13th, 2024
Digital currency customers will continue to be subject to fraud if new regulatory tools are not introduced, claimed the chairman of the Commodity Futures Trading Commission (CFTC) as the organisation won a case ordering cryptocurrency exchange FTX to pay USD12.7 billion to victims of its fraud.
The CFTC secured the order at the US District Court for the Southern District of New York FTX Trading and its investment arm Alameda Research telling them to pay USD8.7 billion in restitution and USD4 billion in disgorgement to compensate victims for losses suffered from ...
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