FTX former executives and promoters settle class action for $1.3 million

ChainCatcher news, former FTX executives and promoters have reached a settlement of nearly $1.36 million with a class action group formed by former investors of the cryptocurrency exchange.

According to the Miami federal court on March 27, FTX co-founder Zixiao "Gary" Wang, former engineering chief Nishad Singh, and former CEO of sister trading firm Alameda Research Caroline Ellison have agreed to cooperate and provide information to the lawsuit in order to seek approval for a settlement regarding the claims against them.

They also reached a settlement with seven other influencers as well as former FTX chief regulatory officer and FTX.US chief compliance officer Daniel Friedberg.