The settlement requires Bankman-Fried’s cooperation, including providing extensive information about FTX-related entities and his investments in Anthropic.
The ongoing civil lawsuit in the Southern District of Florida involves multiple FTX promoters and insiders, with some defendants, including celebrities like Tom Brady and Gisele Bundchen, seeking settlements.
FTX co-founder Sam Bankman-Fried is likely to see some relief as investors seek to drop claims against the disgraced founder. Last week on April 19, Bloomberg reported that under a proposed settlement, Bankman-Fried would be cooperating against celebrity promoters dubbed defendants in this $1.3 million civil lawsuit.
The defendants currently include the names of some of the key celebrities such as former NBA player Shaquille O’Neal, former NFL quarterback Tom Brady, and supermodel Gisele Bundchen. The plaintiffs have argued that these celebrities openly promoted FTX thereby dragging many players into it.
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