Investors in Sam Bankman-Fried’s bankrupt crypto firm FTX agreed to drop their claims against the convicted fraudster in exchange for his cooperation in lawsuits against other defendants — including celebrities Tom Brady, Gisele Bundchen and Larry David who promoted the company before its stunning collapse.
According to the settlement — filed by a group of FTX investors in Miami federal court Friday — Bankman–Fried would be free of any civil liabilities from the multi-district litigation now and in the future, according to Bloomberg.
As part of the proposed settlement, which still needs approval from a judge, Bankman-Fried has agreed to hand over all nonprivileged documents detailing his assets and his investment in Google and Amazon-backed artificial intelligence startup Anthropic , an affidavit certifying his net worth as negative and documents about other defendants in the lawsuits, Bloomberg reported.
