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FTX has reached a settlement agreement with Evolve Bank and Silicon Valley Community Foundation, which is expected to recover $21 million in assets

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2024-11-01 11:20:25
FTX has reached a settlement with Evolve Bank and the Silicon Valley Community Foundation (SVCF), which could allow it to recover up to $21 million in assets. The agreement is pending court approval and a hearing will be held on November 20.
Previously, Evolve Bank held more than $13 million in an account for FTX affiliate West Realm Shires Services Inc. Under the agreement, Evolve Bank will retain $462,700 as compensation expenses and waive all related claims.
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