Deep Tide TechFlow news, on November 1, according to CryptoSlate, FTX has reached a settlement agreement with Evolve Bank and the Silicon Valley Community Foundation (SVCF), expected to recover up to $21 million in assets. According to court documents dated October 30, these settlement agreements are subject to court approval, with a hearing scheduled for November 20.
Specifically, Evolve Bank will return approximately $12.77 million to FTX, retaining only $462,700 as compensation expenses. The bank will also waive all existing and potential claims against FTX. SVCF has agreed to return at least $8.5747 million in cash and 34,208.70 FTT tokens, which originated from donations made by former FTX executives Nishad Singh and Caroline Ellison in December 2021.
