Crypto users propose dropping charges against Sam Bankman-Fried to track down FTX influencers

A group of cryptocurrency users has reached a settlement with former FTX CEO Sam “SBF” Bankman-Fried as part of a class-action lawsuit filed in Florida.

On April 19, in the United States District Court for the Southern District of Florida, plaintiffs who sued FTX Influencers in 2022 announced that they had reached a settlement with Bankman-Fried. According to the filing, the plaintiffs used some of the information provided by the trial court to pursue their case against the FTX promoters if they were to proceed with the trial against SBF, realizing the cost and duration of the trial.

“[Bankman-Fried] Class representatives and class counsel have knowledge and other information against other defendants in the FTX MDL that they believe is relevant to the class representatives' case. [multidistrict litigation]”In particular, knowledge and assistance regarding their relationship with FTX's US headquarters in Miami, Florida, as well as each of the MDL defendants' actions and relationships with other states where the defendants have asserted jurisdiction,” the April 19 filing said.

Pending court approval, to settle a lawsuit between SBF and crypto users seeking redress for losses incurred during the FTX collapse. The lawsuit alleges that the plaintiffs He proposed a settlement on March 28 — the day Judge Banman-Fried sentenced him to 25 years in prison for the felony.

The plaintiffs in the suit proposed that Bankman-Fried help victims recover by suing FTX influencers and providing documents and witnesses at trial. The attorneys specifically cited information from celebrities and companies responsible for backing the cryptocurrency before its collapse, including sports stars Naomi Osaka, Tom Brady, Stephen Curry and Shaquille O'Neal.

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First filed in November 2022, shortly after FTX filed for bankruptcy, it was consolidated into its current form in June 2023: The Moskowitz Law Firm, behind several crypto-specific class-action lawsuits, represented the plaintiffs.

Bankuman-Fried's lawyers filed a notice on April 11 to appeal the former FTX CEO's conviction and sentence. They also requested that the SBF be held at the Metropolitan Jail in Brooklyn, rather than at the federal prison in the San Francisco Bay Area, to protect them.

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