Two professional services firms that worked with collapsed crypto exchange FTX have agreed to pay a combined $66 million to settle customer fraud claims, without admitting wrongdoing. Law firm Fenwick & West and FTX's former auditor reached the settlement to resolve civil claims brought by customers who suffered losses in the November 2022 collapse. Fenwick & West continues to face a separate and significantly larger $525 million lawsuit filed in Washington state, which is not covered by Friday's agreement. The settlements mark another step in the ongoing legal fallout from FTX's implosion, which wiped out billions in customer funds and led to the conviction of founder Sam Bankman-Fried on multiple fraud and conspiracy charges.
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