A US law firm has reached a settlement with customers who accused it of helping the defunct crypto exchange FTX facilitate misconduct.
Fenwick & West, which served as lead outside counsel for FTX during its rapid expansion, will pay $54 million to settle claims related to its work for the exchange.
The proposed settlement resolves allegations that the firm helped craft and implement strategies that facilitated FTX's fraud, including assisting with regulatory and operational structures tied to the misuse of customer funds.