**FTX and Alameda Ordered to Repay $12.7 Billion to Creditors**

A New York judge has approved a $12.7 billion settlement for defunct crypto exchange FTX and its sister firm Alameda Research to repay creditors. This decision, finalized by District Judge Peter Castel on August 7, resolves a 20-month lawsuit with the U.S. Commodity Futures Trading Commission (CFTC).

Key Points:

- FTX and Alameda will repay $12.7 billion to creditors.

- No civil monetary penalty was imposed; all funds go directly to creditors.

- The firms are banned from future digital asset commodity transactions.

- Creditors have until August 16 to vote on their preferred payout method, with a final decision expected on October 7.

Stay tuned for further updates on this significant financial settlement.