Atlas21
  • ‎
No Result
View All Result
Atlas21
No Result
View All Result
Atlas21
Home Bitcoin

FTX: law firm Fenwick & West pays $54 million settlement

Newsroom by Newsroom
May 25, 2026
in Bitcoin
FTX: lo studio legale Fenwick & West paga 54 milioni per accordo stragiudiziale
Share on FacebookShare on TwitterShare on Linkedin

The law firm that advised FTX before its collapse will pay $54 million to former customers of the platform.

Fenwick & West LLP, the law firm that served as FTX’s primary legal counsel, has agreed to pay $54 million to settle a 2023 class action lawsuit filed by former customers of the defunct exchange. The settlement, reached in February 2026, was announced on Friday and still requires approval from a U.S. judge.

The plaintiffs allege that Fenwick “facilitated FTX’s fraud” by playing “a key and crucial role in the most important aspects of why and how FTX’s fraud was carried out”, as stated in the original complaint. Specifically, the claimants accuse the Silicon Valley-based firm of helping FTX conceal the misuse of customer funds through the creation of legal entities, structures, and strategies designed to hide the commingling of funds — including transfers between the exchange and its trading arm, Alameda Research.

Among the contested strategies is legal advice provided by Fenwick to create structures that exempted FTX from the requirement to obtain licenses as a money transmission operator. The firm had initially attempted to have the case dismissed before agreeing to negotiate a settlement. The case is part of the broader legal fallout following FTX’s collapse in 2022, which shook the entire crypto industry and paved the way for increased regulatory scrutiny in the United States. Fenwick & West also faces a separate lawsuit seeking $525 million over its alleged role in the platform’s downfall.

On the creditor and customer reimbursement front, the FTX Recovery Trust distributed $2.2 billion in March 2026, with a new tranche of payments scheduled for May 29. However, those affected have complained that the Trust mismanaged the liquidation of assets, frequently selling them at discounted prices relative to the all-time highs reached after the collapse. One striking example: the Trust sold a 5% stake in artificial intelligence company Cursor for approximately $200,000 in April 2023, missing out on an extraordinary gain when that same stake reached a value of approximately $3 billion in April 2026.

Previous Post

Swan Bitcoin: nearly $1 billion lawsuit over pre-bankruptcy transfers from Prime Trust

Next Post

CFTC: officials removed for obstructing Trump-linked crypto firms

Latest News

stablecoin
Crypto

The digital ruble and the digital euro are the same prison with different walls

by Federico Rivi
July 3, 2026
0

Moscow and Frankfurt speak different languages but are building the same architecture: programmability, transaction surveillance, abolition of monetary privacy.

Read moreDetails
criptovalute
Industry

Russia to roll out the digital ruble at scale by September

by Newsroom
July 3, 2026
0

The Bank of Russia's timeline moves the digital ruble from pilot to national monetary infrastructure, with direct implications for the...

Read moreDetails
Jeff Booth: Bitcoin is a protocol, not an asset
Bitcoin

Jeff Booth: Bitcoin is a protocol, not an asset

by Newsroom
July 2, 2026
0

The distinction between store of value and monetary protocol determines, according to Booth, the very fate of the network over...

Read moreDetails
La Fed pubblica i primi dati dello studio sui pagamenti 2025
Industry

Fed releases first data from the 2025 payments study

by Newsroom
July 2, 2026
0

The Federal Reserve's triennial study captures a system digitalising under state stewardship: whoever controls payment infrastructure data controls the currency.

Read moreDetails
Raccontare Bitcoin tramite l’arte
Feature

The Fed’s independence is a legal fiction

by Federico Rivi
July 1, 2026
0

The SCOTUS rulings of 29 June 2026 on independent agencies reveal that the American central bank has always been, in...

Read moreDetails
Atlas21

© 2026 Atlas21

Navigate Site

  • Editorial Policy
  • Cookie Policy
  • Privacy Policy
  • Team

Follow Us

No Result
View All Result
  • Bitcoin 101
    • What Is Bitcoin? A Complete Guide
    • Bitcoin Security: A Complete Guide
    • Bitcoin Privacy: A Complete Guide
    • Lightning Network: A Complete Guide
    • Bitcoin Mining: A Complete Guide
    • Advanced Bitcoin: A Technical Guide
  • Learn
  • Latest News
  • Interviews
  • Opinion
  • Feature
  • B2B Services
  • About Us
  • Contacts

© 2026 Atlas21

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site, we will assume that you are happy with it.