FTX former execs and promotors to settle class lawsuit for $1.3M

Former FTX and Alameda executives agreed to share information to aid in the class group’s legal fight against other alleged FTX promoters.

Former FTX executives and promotors have come to a nearly $1.36 million settlement with a class action group of the crypto exchange’s former investors seeking compensation for being defrauded.

FTX co-founder Zixiao “Gary” Wang, former engineering lead Nishad Singh and sister trading firm Alameda Research ex-CEO Caroline Ellison agreed to cooperate and give information to the lawsuit to resolve the claims against them, according to a March 27 Miami federal court bid seeking the settlements’ approval.

Settlements were also reached with seven other influencers and former FTX chief regulatory officer and FTX.US chief compliance officer Daniel Friedberg.

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