Former FTX executives and promoters reached a settlement with a class action group for approximately $1.36 million

On March 29th, it was reported that former FTX executives and promoters have reached a settlement of nearly $1.36 million with a class action lawsuit group composed of former investors on the exchange. According to an application from the Miami Federal Court on March 27th, FTX co-founder Zixiao "Gary" Wang, former engineering director Nishad Singh, and former CEO of Alameda Research Caroline Ellison have agreed to cooperate and provide information to the lawsuit to resolve their claims. This application aims to seek approval for the settlement agreement. The settlement agreement further stipulates that these three individuals agree to confiscate their property, and the judge in the criminal case shall decide on the recovery and distribution of the victim's funds.