FTX and IRS Reach $200 Million Settlement for Tax Debts

FTX, the bankrupt cryptocurrency exchange, has reached a $200 million settlement with the IRS to resolve a $24 billion tax dispute. The agreement, pending court approval, will allow FTX to move forward with its reorganization plan. Despite disagreements on the amount owed, this settlement represents a significant step for FTX in fulfilling its financial obligations. Additionally, investors have dropped a class action lawsuit against former CEO Sam Bankman-Fried in exchange for his assistance in legal actions against celebrity promoters of FTX. Stay tuned for more updates on this developing story.