Saturday, August 10, 2024

FTX Ordered to Pay $12.7 Billion to Victims of Sam Bankman-Fried's Fraud

Good news! This is huge, but does FTX have enough money to make the payments?

"U.S. District Judge Kevin Castel on Wednesday ordered FTX to pay $8.7 billion in restitution to victims of Bankman-Fried’s fraud, in addition to $4 billion “gains received in connection with the violations.” ..."

FTX Ordered to Pay $12.7 Billion to Victims of Sam Bankman-Fried's Fraud "FTX, the failed cryptocurrency exchange at the center of disgraced former CEO Sam Bankman-Fried’s fraud, has been ordered to pay customers $12.7 billion."

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