FTX Trading Ltd. has agreed to settlements with former banking partner Evolve Bank and Silicon Valley Community Foundation, curtailing potential lawsuits and netting the liquidating cryptocurrency exchange about $21 million.
FTX asked the US Bankruptcy Court for the District of Delaware on Wednesday to approve the pair of deals, which will provide additional funds to repay creditors of Sam Bankman Fried’s defunct crypto platform.
Under the deal with Evolve, the bank will hand over $12.77 million worth of funds it holds in FTX accounts. Evolve previously provided West Realm Shires Services Inc., an FTX affiliate that also filed for bankruptcy, ...
Learn more about Bloomberg Tax or Log In to keep reading:
Learn About Bloomberg Tax
From research to software to news, find what you need to stay ahead.
Already a subscriber?
Log in to keep reading or access research tools.