PANews reported on July 17 that according to The Block, the crypto exchange FTX and the U.S. Commodity Futures Trading Commission (CFTC) have agreed to a $12.7 billion settlement, which is currently awaiting approval from a bankruptcy judge. According to a court document filed with the U.S. Delaware Bankruptcy Court on July 12, the two parties have been in negotiations over the past few months. The CFTC filed a fraud lawsuit against FTX, former FTX CEO SBF and its affiliate Alameda in 2022, alleging that their actions caused customers to lose $8 billion. The CFTC initially sought $52.2 billion in compensation. As part of the settlement, the CFTC agreed that as long as FTX complies with its restructuring plan, the CFTC will not receive any compensation. FTX will pay up to $12.7 billion in compensation to creditors, depending on available funds. A hearing on the settlement motion will be held on August 6. FTX filed for bankruptcy at the end of 2022. In May of this year, the FTX bankruptcy administrator announced a restructuring plan, and creditors will receive full cash repayment. Under the plan, creditors with claims of less than $50,000 will be eligible for 118% compensation within 60 days of court approval.