FTX investors to settle with Sam Bankman-Fried on condition that he provides key information

Source Fxstreet
  • Sam Bankman-Fried has agreed to provide FTX investors with valuable information about key firms and celebrities related to the defunct exchange before its collapse.
  • Part of the settlement terms include proof that SBF's net worth is negative.
  • Investors will discharge all claims against SBF if the court approves the agreement.

A group of FTX investors have filed a court document to settle with Sam Bankman-Fried on the grounds that he provides key information about FTX-related celebrities and institutions. This indicates that these investors are looking to exhaust all avenues to ensure they get back their funds.

Read more: SBF sentenced to 25 years in prison after November conviction

Investors to settle with SBF

According to a Bloomberg report, Sam Bankman-Fried, founder and former CEO of FTX, recently sentenced to 25 Years in prison, has come to terms with a group of investors. It's been barely three weeks since the official sentence of Bankman-fried to prison.

The agreement with FTX investors involves all claims against Sam being dropped if he cooperates with the class representatives to strengthen their case against celebrity promoters of FTX by providing valuable information regarding their dealings.

If the court approves, the agreement will mandate that Bankman-fried release confidential information about celebrities' involvement in raising FTX ratings before its eventual collapse in 2022.

Also read: Mango Market attacker convicted of fraud and market manipulation

These celebrities include Shaquille O'Neal, Stephen Curry, Lawrence Gene David, Tom Brady, Gisele Bundchen, and even organizations such as MBA's Miami Heat franchises, SoftBank Group, Paradigm Operations LP, and many more.

Bankman-Fried will also be required to provide certain documents alongside evidence of these people and organizations' involvement with FTX and present them to the court without a subpoena, a filed document showed.

This will include a financial statement of all his current assets and a sworn affidavit of all his financial assets. He will also provide an affidavit stating that his net worth is negative.

This follows a recent demand by US Senator Elizabeth Warren for the head of the US Commodity & Futures Trading Commission (CFTC), Rostin Behnam, to give a full account of his several meetings with SBF before the FTX implosion.

Read more: OneCoin's head of legal and compliance gets four years in jail as CZ sentencing comes next

In November of 2023, Sam Bankman-fried was convicted and found guilty of all charges against him, including wire fraud, securities fraud, and money laundering. On March 28, he was sentenced to 25 years in prison, and a forfeiture of $11 billion woth of assets was ordered to help "fund the repayment of the victims of the FTX collapse."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Silver Surges Then Flash Crashes. Safe-Haven Asset Or Speculative Bubble? What Is the Truth of Market Turmoil?The global precious metals market experienced extreme volatility at the end of 2025, with silver prices plummeting nearly 9% on December 29, marking its largest single-day decline since 2
Author  TradingKey
Dec 31, 2025
The global precious metals market experienced extreme volatility at the end of 2025, with silver prices plummeting nearly 9% on December 29, marking its largest single-day decline since 2
placeholder
Silver Price Forecast: XAG/USD dips to near $72.50 as CME raises marginsSilver price (XAG/USD) has lost its nearly a 4.5% gain registered in the previous session, trading around $72.50 during the Asian hours on Wednesday.
Author  FXStreet
Dec 31, 2025
Silver price (XAG/USD) has lost its nearly a 4.5% gain registered in the previous session, trading around $72.50 during the Asian hours on Wednesday.
placeholder
Bitcoin Rejected at $90K: Is the ‘Digital Gold’ Narrative Losing Ground to Bonds?Bitcoin struggles to break the $90,000 barrier, with investors preferring traditional hedges like gold and bonds.
Author  Mitrade
Dec 31, 2025
Bitcoin struggles to break the $90,000 barrier, with investors preferring traditional hedges like gold and bonds.
placeholder
EUR/USD softens below 1.1750 after Fed Minutes The EUR/USD pair attracts some sellers near 1.1745 during the early Asian session on Wednesday. The US Dollar (USD) edges higher against the Euro (EUR) after the release of minutes from the Federal Reserve's (Fed) December meeting.
Author  FXStreet
Dec 31, 2025
The EUR/USD pair attracts some sellers near 1.1745 during the early Asian session on Wednesday. The US Dollar (USD) edges higher against the Euro (EUR) after the release of minutes from the Federal Reserve's (Fed) December meeting.
placeholder
TradingKey Market Review and Outlook | 2025 Crude Oil Prices Collapse, Can Oil Prices Stage a Comeback in 2026?Similar to Bitcoin prices volatility, the crude oil market experienced a 'rollercoaster' performance twice in 2025, surging in January and June, respectively. However, crude oil prices ar
Author  TradingKey
Dec 30, 2025
Similar to Bitcoin prices volatility, the crude oil market experienced a 'rollercoaster' performance twice in 2025, surging in January and June, respectively. However, crude oil prices ar
goTop
quote