Judge approves $12.70 billion settlement between FTX, Alameda and CFTC

In an Aug. 7 filing, U.S. District Judge Peter Castel formally approved the $12.70 billion settlement reached by FTX and Alameda to resolve the CFTC's 20-month-old lawsuit. Notably, the CFTC is not seeking a civil penalty, meaning the entire $12.70 billion will be used to directly repay FTX creditors.