Bankrupt crypto exchange FTX and the US Commodity Futures Trading Commission (CFTC) have reached a $12.7 billion settlement, Cointelegraph has reported.
Negotiations between the two parties have been ongoing for several months, as indicated in a July 12 court filing in the US Bankruptcy Court for the District of Delaware.
According to the filing, the proposed agreement, which is currently awaiting approval by a Delaware judge, is a crucial component of FTX's Chapter 11 reorganization plan.
It aims to resolve existing disputes and ongoing litigation with one of FTX's largest creditors, while avoiding the potential costs and delays of further legal action.
The agreement also minimizes the risk of diminishing assets available for distribution to creditors.