FTX and CFTC agree to a $12.7bn settlement from an initial $52.2bn claim, resolving a 19-month long lawsuit.

The agreement is subject to court approval at an August 6 hearing.

The CFTC sued FTX, its former CEO Sam Bankman-Fried and FTX’s sister trading firm Alameda Research in December, 2022, claiming the firm committed fraud and made misrepresentations by marketing FTX.cоm as a digital commodity asset platform.