Some investors of the FTX cryptocurrency exchange agreed to drop its claims against its former CEO Sam Benkman-Fried (SBF) in exchange for his cooperation in lawsuits against celebrities who endorsed the platform.
The document said that as part of the deal, which must be approved by a judge, SBF agreed to hand over all documents detailing its assets and investments in artificial intelligence startup Anthropic. Benkman-Fried also intends to provide a group of investors with information about accountants and lawyers who worked with the exchange.
It is known that the purpose of the deal is to help in lawsuits by investors against celebrities and venture capital firms, which FTX supported.
Additionally, Benkman-Fried's former employees and friends Caroline Ellison, Nishad Singh, Gary Wang and Dan Friedberg entered into similar settlement agreements.
In September 2023, we reported that the FTX exchange had spent hundreds of thousands of dollars on various celebrity marketing fees. In particular, former professional basketball player Shaquille O'Neal, Japanese tennis player Naomi Osaka, rugby player Trevor Lawrence and former baseball player David Ortiz received payments.
Note that at the end of March 2024, the Southern District of New York court sentenced founder Sam Benkman-Fried to 25 years in prison.
Source: Cryptocurrency
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