FTX and Alameda ordered to pay $12.7 billion to creditors after lawsuit

From Nasdaq

August 8, 2024 07:02:57 AM:

1. A New York judge has ordered FTX and Alameda Research to pay $12.7 billion to creditors after a 20-month lawsuit by the CFTC following FTX’s collapse.

2. FTX and Alameda face a ban on trading digital assets after the ruling, preventing them from operating in the crypto market.

3. The fallout from FTX’s bankruptcy led to billions lost, and founder Sam Bankman-Fried received a 25-year sentence for fraud.

4. The $12.7 billion payment from FTX is set to compensate those affected by the collapse, with distribution plans under scrutiny.

5. For those seeking stability in crypto investment, consider stocks like COIN, HOOD, and BKKT which offer regulatory oversight for added protection. ​​​​​​​

6. COIN stock has the highest upside potential of 44.9% according to the TipRanks Stocks Comparison tool. ​​​​​​​

Read more at Nasdaq MarketSite: FTX and Alameda Ordered to Pay $12.7 Billion to Creditors