FTX, the bankrupt cryptocurrency exchange, has submitted a motion to the court seeking approval for a settlement agreement with Caroline Ellison, the former CEO of Alameda Research. The agreement calls for Ellison to relinquish her assets, with the exception of those that have been seized or are required for legal fees, to FTX creditors. The motion is a significant development in the ongoing FTX bankruptcy proceedings. It comes as the company attempts to recover assets and repay creditors after its spectacular collapse in November 2022. If approved by the court, the settlement agreement would provide some relief to FTX creditors, who have been facing significant losses as a result of the exchange's failure. It would also represent a step forward in the complex and challenging process of unwinding FTX's operations.
