Fenwick & West to pay $54M to settle FTX customer lawsuit

Fenwick & West, a law firm that represented FTX, has agreed to pay $54 million to settle a lawsuit related to customer losses, BeInCrypto reported. The settlement is subject to court approval before it is finalized. Plaintiffs alleged that Fenwick went beyond a simple advisory role and was involved in designing the structure that allowed for the misappropriation of customer funds between FTX and Alameda Research. This settlement is part of a secondary wave of legal battles following the FTX bankruptcy, and a separate $525 million lawsuit against Fenwick and some of its partners is still ongoing.