According to Techub News, Bloomberg reported that FTX reached a settlement with the IRS on a $24 billion tax claim. The settlement amount is only a small fraction of what the IRS claims it owes, which will help FTX pay a large number of customer compensation.

The IRS will receive $200 million in priority claims in the FTX bankruptcy case and will pay it within 60 days after the company's proposed reorganization plan takes effect. The agency will also receive $685 million in lower priority claims, "paid to customers and other creditors on a subordinated basis" and "when funds are available."