FTX Cryptocurrency Exchange Collapse

This docket consolidates civil claims arising from the 2022 collapse of the FTX cryptocurrency exchange, alleging that FTX, its founder, and various affiliated individuals and entities — along with, in some actions, celebrity endorsers and other third parties — misappropriated customer funds and misrepresented the exchange's financial condition before its sudden bankruptcy filing. Centralized in the Southern District of Florida in June 2023, the docket carries 37 pending actions, running alongside a parallel bankruptcy proceeding and criminal prosecutions of certain individuals connected to the collapse.

For a funder, this docket's claim population is unusually varied in defendant type: some actions target FTX-affiliated entities and individuals directly, while others pursue third-party liability theories against celebrities, influencers, or venture-capital investors alleged to have promoted the exchange without adequate diligence or disclosure. Diligence should identify which defendant category and legal theory a specific claim asserts, since third-party promoter liability theories present different causation and damages questions than direct claims against FTX principals.

Customer-recovery claims against the FTX bankruptcy estate itself are generally administered through that separate bankruptcy process rather than this civil MDL, so this docket is more relevant to claims against parties outside the direct bankruptcy recovery framework. There is no medical-lien component to this financial-fraud matter. For a claimant or firm with a specific claim in this docket, Criterica Capital's commercial litigation finance line is the applicable structure, with diligence tailored to the specific defendant and theory asserted. A structural brief on this docket is available through Criterica Intelligence.

Pre-settlement funding is a non-recourse purchase of a portion of the proceeds of a pending legal claim — not a loan. If the case does not result in a recovery, nothing is owed. Rates, fees, and repayment terms are disclosed in full in the funding agreement, which the applicant’s attorney reviews before signing. Availability and terms vary by state.