Law firm Fenwick & West agreed on Friday to pay $54 million to settle allegations related to its advisory role in the collapse of the FTX cryptocurrency exchange.

Details Of The Settlement

The preliminary settlement was filed in the U.S. District Court for the Southern District of Florida and is pending the judge’s approval.

The parties agreed to resolve all pending and potential claims to “avoid the costs, inconvenience, and uncertainty of further litigation, the court filing states.

Fenwick provided legal services, advice, and consulting to FTX before the exchange’s collapse in 2022, which triggered a liquidity crisis and a prolonged cryptocurrency bear market.

Lawsuits were later filed against the California-based firm, alleging…