The judge has officially approved the $12.7 billion settlement agreement between FTX and CFTC

ChainCatcher news, in a document dated August 7, U.S. District Judge Peter Castel officially approved the $12.7 billion settlement agreement reached between FTX and Alameda to resolve a lawsuit that has lasted for 20 months with CFTC. Notably, the CFTC did not seek civil penalties, which means all $12.7 billion will be used to directly repay FTX creditors.

Previous news reported that bankrupt cryptocurrency exchange FTX and the U.S. Commodity Futures Trading Commission (CFTC) had agreed to reach a $12.7 billion settlement agreement, which is currently awaiting approval from a Delaware judge.