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The Commodity Futures Trading Commission (CFTC) has secured $31 million in restitution for victims of a forex and cryptocurrency scam. Additionally, the CFTC has ordered an Illinois Futures Commission Merchant to pay over $980,000 due to supervision failures. In a related development, Solana DEX Mango Markets, a decentralized exchange, is considering a $500,000 settlement with the CFTC to avoid litigation over commodities trading violations. Meanwhile, the FTX bankruptcy estate and multidistrict litigation (MDL) plaintiffs have resolved differences, addressing a $20 billion out-of-pocket loss for damages.
.@mangomarkets is considering settling a lawsuit with the CFTC for $500k The crypto derivatives trading hub faces CFTC charges for allegedly failing to register as a commodities exchange, for illegally offering services to U.S. customers and failing to check its customers'… https://t.co/YrV1urAbJO
Lawyers for the FTX bankruptcy estate and the FTX multidistrict litigation plaintiffs started working together when they realized there is a "$20 billion out-of-pocket loss for damages." Reporter Michael Adam Mora has the details here: https://t.co/TZSiux0R9W https://t.co/WFjFqfaQ0e
Solana DEX Mango Markets may offer CFTC a $500,000 settlement to avoid litigation over commodities trading violations. @realDannyNelson reports https://t.co/cmn3e61XLS
