Fenwick & West, the law firm tied to FTX, has agreed to pay $54 million to settle a 2023 class action lawsuit filed by former customers of the collapsed crypto exchange.
The lawsuit alleged that the firm provided legal services that indirectly enabled FTX’s operations prior to its historic collapse in late 2022, which triggered massive investor losses across the crypto market.
The settlement marks one of the largest legal agreements linked to the FTX scandal so far, as lawsuits and investigations surrounding Sam Bankman-Fried’s former empire continue.