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Justice: cryptocurrency exchange FTX ordered to pay $12.7 billion to its customers

09/08/2024
Source : ORISHAS-FINANCE
Categories: Compliance

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The Commodity Futures Trading Commission said in a statement on Thursday that a US court ordered the bankrupt cryptocurrency exchange FTX to pay $12.7 billion to its customers.

FTX founder Sam Bankman-Fried was sentenced to 25 years in prison in March for stealing $8 billion from his customers. According to the Commission, “the order requires FTX to pay $8.7 billion in restitution and $4 billion in disgorgement, which will be used to further compensate victims for the losses suffered as a result of the massive fraudulent system

orchestrated by Samuel Bankman-Fried.”
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