Odaily Planet Daily reports that, according to court documents, the Silicon Valley law firm Fenwick & West, which served as FTX US’s primary external legal counsel prior to its 2022 collapse, has agreed to pay $54 million to settle allegations that it assisted Sam Bankman-Fried in carrying out fraud. This settlement is part of FTX’s second batch of settlements, which also include Prager Metis, the auditing firm, paying $11.75 million and former NBA player Udonis Haslem paying $420,000. The total amount of the second batch of FTX class action settlements amounts to approximately $66.17 million. (TheBlock)
FTX's second batch of settlements amounts to $66.17 million, including $54 million from Fenwick & West.
KuCoinFlashShare
Summary
FTX’s second batch of settlements totals $66.17 million, including $54 million from the law firm Fenwick & West. Prager Metis and Udonis Haslem contributed $11.75 million and $420,000, respectively. The CFTC probe continues to affect liquidity and crypto markets, with legal entities facing financial penalties. The settlements reflect ongoing regulatory pressure in the sector.
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.