According to Bloomberg, FTX has settled $24 billion in claims from the IRS (priority creditors), a fraction of what the agency said it was owed. This is undoubtedly a good thing for general creditors.

Settling $24 billion in sky-high claims with only partial compensation

The IRS can receive $200 million within 60 days of the reorganization plan taking effect, and an additional $685 million after that if funds become available.

FTX has also previously stated that if the court can accept its claims with the IRS, it will allow users to obtain compensation.

This article FTX settles with IRS to resolve sky-high $24 billion claim first appeared on Chain News ABMedia.