US court orders FTX to pay $12.7bn to customers

FTX has committed to a bankruptcy liquidation that will repay customers whose deposits were locked during its late 2022 collapse.

A United States court has ordered bankrupt cryptocurrency exchange FTX to pay $12.7bn in relief to its customers, the Commodity Futures Trading Commission has said.

FTX drew customers in with “an illusion that it was a safe and secure place to access crypto markets,” then misappropriated their customer deposits to make its own risky investments, CFTC Chairman…