Fenwick & West was the primary consultant for the crypto exchange before its collapse in 2022. The company is accused of aiding FTX in concealing the misappropriation of client funds through the creation of legal entities and structures. It is alleged that with their help, the crypto exchange mixed client funds with its subsidiary, Alameda Research. To resolve the dispute, the company will pay $54 million without admitting guilt. There is also a separate lawsuit against Fenwick & West for $525 million on the same issue. Additionally, FTX's auditor, Prager Metis, will pay $11.8 million. Bankman-Fried is serving a 25-year sentence in federal prison after being found guilty of embezzling $8 billion. According to Polymarket, the probability of Bankman-Fried being released from prison in 2026 is 9%.