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05/25/2026

Fenwick & West to Pay $54M to FTX Victims in Settlement

What happened: Fenwick & West, outside counsel to FTX, agreed to a $54 million settlement with former FTX customers who alleged the law firm helped structure entities that facilitated the exchange's f

Fenwick & West to Pay $54M to FTX Victims in Settlement

What happened: Fenwick & West, outside counsel to FTX, agreed to a $54 million settlement with former FTX customers who alleged the law firm helped structure entities that facilitated the exchange's fraud. The settlement, reached in February 2026, awaits court approval in Miami. Fenwick denies wrongdoing and faces a separate $525 million lawsuit in Washington, D.C.

Why it matters: The $54 million payout is a fraction of FTX's estimated $8 billion in customer losses, but it sets a precedent for legal liability among crypto advisors. The parallel $525 million lawsuit signals ongoing legal risks for firms that provided services to failed exchanges, potentially reshaping how law firms approach crypto clients.

Source: Cointelegraph; Crypto Briefing; Bitcoinist