The co-lead counsel of the bankrupt cryptocurrency exchange FTX is making progress in their attempts to claw back funds donated to celebrities, influencers, professional athletes, and teams by the Sam Bankman-Fried (SBF) led management before the firm’s implosion in November.
According to several filings, FTX’s co-lead counsel has voluntarily dismissed a case against crypto influencer Ben Armstrong, popularly known as BitBoy, and reached settlements with three high-profile endorsers of the failed exchange.
BitBoy’s Dismissal and Proposed Settlements
Following FTX’s collapse, the firm’s investors commenced litigation against several celebrities seeking a refund for payments they received from SBF to tout the crypto platform. The sports figures and TV stars were accused of promoting a fraudulent scheme through FTX to exploit retail investors with minimal knowledge about the crypto space.
Prominent figures like former and current professional basketball players Shaquille O’Nea
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