đź“Ś MAROKO133 Eksklusif crypto: FTX Users Reach Proposed Settlement With Fenwick &am
Users of the collapsed crypto exchange FTX and Silicon Valley law firm Fenwick & West have reached a proposed settlement in a lawsuit accusing the firm of helping facilitate the fraud that preceded FTX’s downfall.
Key Takeaways:
- FTX users and Fenwick & West reached a proposed settlement in a lawsuit tied to the exchange’s collapse.
- The deal, whose terms are undisclosed, is set to be submitted for court approval on Feb. 27.
- The case is part of broader efforts by users to hold advisers and partners accountable after FTX’s failure.
In a joint filing submitted Friday to a federal court in Florida, Fenwick and lawyers representing FTX users said they intend to formally present the settlement for court approval on Feb. 27.
The filing did not disclose financial terms, but both sides asked the court to pause all pending deadlines and motions while the settlement is finalized.
FTX Collapse Triggers Wave of Lawsuits From Users
The case is part of a broader wave of litigation that followed FTX’s sudden collapse in November 2022, which left millions of customers unable to access their funds.
Users have brought claims against former executives, business partners, promoters and professional service providers tied to the exchange.
The lawsuit against Fenwick was first filed in 2023 and later amended in August.
It alleged that the firm played “a key and crucial role” in the conduct that enabled the FTX fraud, claiming Fenwick provided “substantial assistance” by designing and approving corporate structures that allowed misconduct to continue undetected.
According to the complaint, Fenwick advised FTX on structuring its operations in ways that avoided certain money transmitter registration requirements.
The suit also alleged the firm had visibility into the commingling of customer funds and the blurred operational boundaries between FTX and its sister trading firm, Alameda Research.
Fenwick has consistently denied the allegations. The firm previously sought to dismiss the case, arguing it had no knowledge of any fraud and that it provided routine, lawful legal services to its client.
In November, however, the court rejected Fenwick’s motion to dismiss, allowing the users’ amended complaint to proceed.
The proposed settlement comes after mixed results in users’ efforts to hold outside advisers accountable.
In February 2024, FTX users sued Sullivan & Cromwell, the exchange’s former primary outside counsel, alleging it played a role in the multibillion-dollar fraud.
That case was voluntarily dismissed eight months later, with plaintiffs citing insufficient evidence.
Sam Bankman-Fried Claims FTX Was Never Insolvent
As reported, Bankman-Fried has reignited debate over the FTX collapse, claiming the exchange always had enough assets to fully repay customers.
In a September 30 document, the former CEO argued that the $8 billion shortfall cited during bankruptcy “never left,” and that customer recoveries of up to 143% prove FTX suffered a liquidity crunch—not insolvency.
“There have always been enough assets to repay all customers—in full, in kind—both in November 2022, and today,” he wrote.
Bankman-Fried framed the collapse as a “classic bank run,” triggered by panic withdrawals that drained liquidity within days.
He maintained that FTX and Alameda’s assets exceeded liabilities up to mid-2022, and claimed that financing deals were underway before the bankruptcy filing.
His document disputes the bankruptcy team’s early reports of insolvency and blames their management for eroding value and prolonging creditor repayments.
The post FTX Users Reach Proposed Settlement With Fenwick & West in Fraud Lawsuit appeared first on Cryptonews.
đź”— Sumber: cryptonews.com
đź“Ś MAROKO133 Breaking crypto: SCRYPT Partners with Gauntlet to Unlock Swiss-License
SCRYPT, the Swiss-licensed institutional crypto partner for trading, custody, and investment access, has partnered with Gauntlet, the industry’s leading provider of quantitative risk and optimisation models for DeFi. Together, the firms are launching institutional access to transparent, and risk-managed DeFi strategies at scale.
Bridging Traditional Finance and DeFi innovation
Decentralized finance (DeFi) has become one of the most active and liquid markets globally, with total value locked reaching $103.8 billion on February 2, 2026, according to DefiLlama. Despite this scale, institutional investors have had limited access, constrained by regulatory uncertainty, lack of deep expertise, fragmented infrastructure, and opaque risk frameworks.
This pioneering partnership directly addresses that gap. SCRYPT provides auditable, compliant, and secure 24/7 access to DeFi yield markets for banks, funds, and professional investors, built on bank-grade security, best-in-class custody infrastructure and Swiss regulated environment.
Gauntlet’s on-chain vault strategies – already managing more than $1.5 billion across DeFi assets – will be available through SCRYPT’s Swiss-licensed portfolio management structure. As a vault curator, Gauntlet develops, deploys, and oversees vaults that run DeFi yield strategies backed by battle-tested quantitative models.
“The demand for institutional DeFi is real – what’s been missing is a reliable way in. By combining Gauntlet’s leading market research and on-chain risk models with our regulated institutional framework, we’re bringing Traditional Finance standards to DeFi innovation and empowering firms to access bespoke yield strategies with clarity and confidence.”
— Norman Wooding, Founder & CEO at SCRYPT
“Gauntlet’s mission has always been to bring quantitative rigour to decentralized markets. By partnering with SCRYPT, together we are providing a seamless, compliant, and scalable conduit for major European institutions to access superior, risk-managed DeFi yield strategies.”
— Rahul Goyal, Head of Institutional Partnership at Gauntlet
Together, SCRYPT and Gauntlet will empower professional and institutional investors worldwide to access DeFi strategies with confidence and reliability at scale.
“Our collaboration with Gauntlet extends Gauntlet’s risk-managed vault strategies into a high quality, institutional marketplace. Together, we’re creating a new paradigm for how institutional capital engages with DeFi – safely, transparently, and at scale.”
— John Orthwein, Head of DeFi at SCRYPT
About SCRYPT
SCRYPT is the Swiss-based institutional crypto partner behind firms starting or scaling their digital asset journey. By combining deep market access, crypto-native expertise,and proprietary infrastructure, SCRYPTenables institutions to trade, custody, and invest in digital assets with confidence. Its clients include banks, brokers, asset managers, hedge funds, crypto projects, and commodity traders.
Licensed as a Portfolio Manager under the Swiss Financial Market Supervisory Authority (FINMA), – delivering regulated, risk-managed, and high-performance access to digital asset portfolios at scale.
To learn more about SCRYPT, visit: www.scrypt.swiss.
About Gauntlet
Gauntlet is the leading quantitative risk manager in on-chain finance, building strategies for managing the financials of protocols, applications, and chains. Gauntlet equips the largest FinTechs, Financial Institutions, and investors with data-driven strategies to maximize the value of funds on-chain.
Gauntlet monitors risk for over $42B onchain, and more than $1.5B is allocated to Gauntlet’s onchain yield generation strategies across more than 80 vaults and 10 chains. Over 50,000 users globally have generated $30M+ in yield since the first Gauntlet-curated vaults were launched in February 2024. To learn more about Gauntlet, visit: www.gauntlet.xyz/.
The post SCRYPT Partners with Gauntlet to Unlock Swiss-Licensed DeFi for Institutions appeared first on BeInCrypto.
đź”— Sumber: www.beincrypto.com
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