This settlement marks a notable decrease from FTX's initial demand of nearly $4 billion.
This settlement marks a notable decrease from FTX’s initial demand of nearly $4 billion.
However, the latest court filing suggests that FTX and Genesis have reached an agreement, with the former having to settle for $3.825 billion less than originally demanded. The deal also entails waiving Genesis’ corresponding claims against FTX.that the settlement will greatly streamline the process of confirming the Chapter 11 reorganization plan without incurring the expenses associated with prolonged litigation.
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