FTX Trading Ltd. promoters will pay $1.35 million to settle part of a multi-district litigation over the cryptocurrency trading platform’s collapse in 2022, according to a preliminary motion for approval of the deal.
The settling parties are the first defendants to seek approval for an accord in the US District Court for the Southern District of Florida case. If approved, the monetary relief would benefit class members who held any cryptocurrency or otherwise invested through the FTX platform.
The deal comes amid Sam Bankman-Fried’s sentencing, which yielded a 25-year prison term on Thursday morning. He had faced a potential ...
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