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International Business Times
International Business Times
Business
AFP News

US Orders FTX, Alameda To Pay $12.7 Bn To Victims

FTX Alameda United States Sam Bankman-Fried Alameda Research FTX Trading Cryptocurrency CFTC
A US agency said it won a court order for a $12.7 billion judgment against FTX and affiliate in the wake of the scandal involving former chief Sam Bankman-Fried, shown in December 2022 (Credit: AFP)

Failed cryptocurrency platform FTX Trading and affiliate Alameda Research must pay $12.7 billion to compensate customers and fraud victims under a consent order, US regulators announced Thursday.

A US court in New York ordered the payments in the wake of a massive fraud scheme perpetrated by ex-FTX leader Sam Bankman-Fried, said the Commodity Futures Trading Commission, which called the sum its largest ever recovery.

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