US court issues final judgement against Terraform Labs, Do Kwon, imposes $4.5 billion in fines
The ruling finds the defendants guilty of multiple securities law violations and imposes stringent penalties and restrictions on their future activities.
Track crypto bankruptcies, restructurings, creditor updates, and court filings tied to failed exchanges, lenders, and digital asset firms.
According to the terms of the settlement, the IRS will receive a $200 million priority claim to be paid within 60 days after FTX's proposed restructuring plan is implemented.
Gemini said its Earn users would get their assets back in kind.
The examiner emphasized the necessity of three primary investigations to further clarify the circumstances surrounding FTX Group's downfall.
Genesis has secured court approval for its reorganization plan and its $2 billion settlement with the NYAG.
Gemini Earn users have had their assets frozen since November 2022.
Coinbase could also distribute funds that BlockFi receives from FTX.