FTX and Alameda Ordered to Pay $12.7 Billion in Historic CFTC Settlement

Court ruling mandates restitution and disgorgement to compensate victims of the cryptocurrency exchange's fraudulent activities.

FTX and Alameda must pay $8.7 billion in restitution and $4 billion in disgorgement.
The settlement resolves the CFTC's lawsuit and ensures funds will be directed to creditors.
FTX and Alameda are permanently banned from trading digital assets.
The agreement highlights the need for more stringent regulations in the cryptocurrency market.
FTX founder Sam Bankman-Fried was previously sentenced to 25 years in prison for his role in the fraud.