Fenwick & West Settles FTX Claims for $54 Million

Fenwick & West, the former lead outside counsel for FTX, has agreed to pay $54 million to settle claims alleging the firm facilitated the exchange's $8 billion fraud. According to BeInCrypto, the preliminary settlement was filed in a Miami federal court and awaits judicial approval. Plaintiffs argued that Fenwick went beyond routine legal counsel, crafting strategies that enabled FTX's fraudulent activities. Despite the settlement, Fenwick maintains it was unaware of any wrongdoing. This settlement is part of a broader wave of legal actions following FTX's collapse in November 2022.