Sam Bankman-Fried will help seal deals with disgruntled FTX investors and find celebrity endorsers

Imprisoned Sam Bankman-Fried has struck a deal with some FTX investors seeking to drop a class action lawsuit against him in exchange for help tracking down high-profile promoters who backed the collapsed exchange.

The agreement, filed Friday in a Miami court, has not yet been approved by a judge. When you get the green light, bankman pride Released from current and future civil liability related to the collapse of FTX.

The agreement follows Bankman-Fried’s sentencing to 25 years in prison for his role in the FTX collapse. He is currently going through the appeal process for his sentence.

Celebrities accused of defrauding FTX investors

Some FTX investors have accused celebrity endorsers of defrauding them by making claims about the safety of FTX cryptocurrency assets.

With the cooperation of bankman prideInvestors hope to gain knowledge that can support their claims.

This class action lawsuit includes sports stars Shaquille O’Neal, Stephen Curry, Tom Brady, Naomi Osaka, and Shohei Ohtani. These celebrity supporters, along with supermodel Gisele Bundchen and more than a dozen international venture capital (VC) firms, are all fighting the lawsuit.

Under the agreement with the investors, Bankman-Fried will provide any testimony and documents it currently possesses to “assist the victims in their recovery.” He will also provide support in litigation efforts against promoters and VCs supporting FTX.

Sam Bankman-Fried Isn’t the Only FTX Executive to Sign the Deal

Former FTX employees Caroline Ellison, Nishad Singh, Gary Wang and FTX attorney Dan Friedberg also signed similar agreements with plaintiffs’ attorneys. Financial YouTubers Graham Stephan, Tom Nash, Jeremy Lefebvre, Brian Jung, Andrei Jikh, and Jaspreet Singh have settled lawsuits against them.

YouTubers and influencers like Bitboy, Meet Kevin, and Graham Stephan are reportedly being sued for $1 billion in a class action lawsuit for promoting the defunct cryptocurrency exchange FTX following Block.

— Unusual_Whales (@unusual_whales) March 16, 2023

These little-known celebrity promoters collectively contributed $1.4 million to fund the lawsuit. Jacksonville Jaguars quarterback Trevor Lawrence also settled with the plaintiff in 2023 after receiving $500,000 in exchange for endorsing FTX subsidiary Blockfolio.

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