FTX Investors Settle With Bankman-Fried to Pursue Promoters (1)

A group of FTX investors and customers has agreed to drop their claims against co-founder Sam Bankman-Fried in exchange for his cooperation against other defendants in a sprawling set of lawsuits over the cryptocurrency exchange’s collapse.

The agreement, if approved by a judge, would free Bankman-Fried from civil liability only weeks after he was sentenced to 25 years in prison for fraud for stealing billions of dollars from FTX. According to the settlement, filed Friday in federal court in Miami, plaintiffs in the multi-district litigation would resolve all claims against him now and in the future.

Sam Bankman-Fried

Photographer: Stephanie Keith/Bloomberg

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