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Crypto exchange FTX ordered to pay $12.7 billion to customers, US CFTC says

FTX drew customers in with "an illusion that it was a safe and secure place to access crypto markets," then misappropriated their customer deposits to make its own risky investments, CFTC Chairman Rostin Behnam said in a statement. The repayment order implements a settlement between the CFTC and the bankrupt crypto exchange, which has committed to a bankruptcy liquidation that will repay customers whose deposits were locked during its late 2022 collapse.