Fenwick & West Agrees to Pay $54 Million to Settle FTX Customer Fraud Claims

Fenwick & West entered into a $54 million preliminary settlement to resolve customer fraud lawsuits related to its advisory role for defunct crypto exchange FTX. The settlement agreement was filed in court on May 23, 2026 in Miami, Florida, but has not yet received judicial approval. The Silicon Valley law firm faced claims from FTX customers over its work advising the now-bankrupt exchange.

Settlement agreement details

• ▪The Fenwick & West settlement agreement has yet to receive judicial sanction as of May 23, 2026.
• ▪The Fenwick & West settlement agreement was filed in court on May 23, 2026 in Miami, Florida.
• ▪Fenwick & West entered into a $54 million preliminary settlement agreement to address customer lawsuits related to FTX.

FTX customer fraud claims

• ▪FTX is a defunct crypto exchange.
• ▪FTX customers raised fraud claims against Fenwick & West.

Fenwick & West advisory role

• ▪Fenwick & West is a prominent Silicon Valley law firm.

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