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FTX Agrees to $14M Settlement with Emergent Over $600M in Robinhood Shares
FTX has agreed to pay $14 million to Emergent Technologies to settle a dispute over $600 million in Robinhood shares. In return, Emergent will withdraw its claim on 55 million Robinhood shares and related cash, streamlining FTX's bankruptcy process.
This settlement, outlined by FTX CEO John Ray III on September 6 in Delaware Bankruptcy Court, is seen as key to FTX’s restructuring, helping recover funds for creditors and avoid costly litigation. A court hearing is set for October 22.
