FTX ordered to pay $12.7 billion to customers

Image: Bankrupt FTX Crypto Exchange logo. Image credit: Mariia Shalabaieva via Unsplash. Article by Reuters. Fast Company – August 8, 2024. 

A U.S. court has ordered bankrupt cryptocurrency exchange FTX to pay $12.7 billion in relief to its customers, the Commodity Futures Trading Commission (CFTC) said on Thursday. FTX drew customers in with “an illusion that it was a safe and secure place to access crypto markets,” then misappropriated their customer deposits to make its own risky investments, CFTC chairman Rostin Behnam said in a statement. […]

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