Crypto Exchange FTX Settles Legal Dispute with Bybit for $228M
FTX has reached a settlement agreement with Bybit worth approximately $228 million. This has put an end to the prolonged legal battle over alleged preferential withdrawals before FTX’s collapse.
The settlement was filed with the US Bankruptcy Court for the District of Delaware on Thursday. This decision is also one of the latest steps in FTX’s efforts to recover assets for affected customers.
FTX Can Now Recover $175 Million Worth of Crypto
The agreement comprises two major components. One is the recovery of $175 million worth of crypto currently held on Bybit’s exchange.
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The second one is the sale of BIT tokens to Bybit’s investment arm, Mirana, for nearly $53 million. This settlement now gives a…
