Fenwick agrees to pay $54 million to settle FTX customer claims

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According to the office of Fenwick and West, the former external legal adviser to the agency if it has more than 4 million dollars to settle lawsuits, you claim that the office helped facilitate the fraud process.

The preliminary hearing is in federal court in Miami and requires judicial approval. Attorney David Boyes, representing the plaintiffs, said that the agreement is reasonable and will save both parties from the contract.

from the consultant to the accused

Advise the Silicon Valley Law Firm on the FTX platform during its development to refine the world’s largest digital currency platforms before it collapses in November 2022.

The plaintiffs accused the office of having gone further than providing legal advice, pointing out that Fenwick created strategies that made the fraud of TX and its construction made fraud by mixing the clients’ money with the funds of Alameda Research, the sister company of Afak.

The office of Fenwick objected, confirming that he had no knowledge of any opposition in the AFT. In a statement, the office said : :

The office stated that “…it was not aware of the fraud in FTX, and the office maintains that it denies any wrongdoing, as we have explained continuously throughout this matter.”

The office, which employs more than 500 lawyers, said it is looking forward to overcoming this issue.

A second wave of legal proceedings against FTX

The $54 million deal is part of a second, broader wave of settlements. it comes later previous claims لاسترداد وصول I aimed former executive managers and counterparties. A separate $525 million lawsuit against Fenwick and its partners remains pending against a large portion of the legal risk.

The court sentenced in 2024 the founder of FTX, Sam Bankman-Fried, to 25 years in prison, to 28 years in prison, and to pay billions of dollars from clients. وقد قدم تعانًا على آدانته.

Since then, the bankruptcy trustee has distributed more than $5.0 billion to the creditors in the organized recovery, and completed the third payment round to the creditors in September 2025, as well as a court-approved payment to the FTX platform, which legalized the restitution process of the victims.

It remains to be seen if the agreement with Fenwick refers to the additional settlements from the last professional advisors associated with the FTX platform, where the second wave of the process continues.

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