Investors affected by the FTX derivatives exchange are moving to drop some of their claims against the trading platform’s former CEO Sam Bankman Fried, including There are conditions attached.
Celebrities involved in the FTX incident
The investor group filed a proposed settlement Friday in federal court in Miami, forcing the embattled 32-year-old entrepreneur to cooperate against other defendants in a wide-ranging lawsuit over the collapse of the FTX exchange. asked to do so. These other defendants include celebrities, financiers, social media influencers, and people who promoted FTX and caused billions of dollars in losses for investors.
Sports stars Tom Brady, Shaquille O’Neal, Stephen Curry, Naomi Osaka and model Gisele Bündchen are likely to be involved in the settlement. These celebrities were accused of being paid to support the exchange before it collapsed and filed for bankruptcy. As of last year, FTX’s new financial advisor tried to: Recover the millions of dollars paid to them.
Bankman Fried, meanwhile, has been asked to provide all non-privileged documents, including details of his assets and investments in artificial intelligence (AI) intelligence startup Anthropic. They will also have to submit affidavits proving their net worth is negative, as well as other documents related to other defendants in the broader civil case.
In return, they agreed to drop the charges against him. If the deal is approved by a judge, SBF will be immune from civil liability.For those who have been sentenced 25 years imprisonment The deal could have major implications after being accused a few weeks ago of masterminding the collapse of FTX.
FTX investors will receive $1.3 million in settlement
On the other hand, if an agreement is reached, the plaintiffs will achieve a major victory.
Incidentally, the settlement with these involved promoters is estimated to be approximately $1.3 million. Considering the concrete evidence against these celebrities, it may be difficult for them to find a way out of their dilemma. SBF is said to have injected a large amount of funds. FTX approval As soon as crypto exchanges hit a roadblock.
He took advantage of the fact that many people respect these prominent figures and trust their judgment. Mr. Bankman Freed’s legal representatives say Mr. Bankman Freed is now working to right his wrongs.
Some of his revision plans include: Compensate everyone affected By implosion.
