FTX users welcome a turning point: SilverGate Bank $10 million settlement, application deadline by January next year.

[Coin World] $10 million! There is new progress in the FTX collapse case.

Those FTX users who once stored their money in SilverGate have finally received some good news — this bank has agreed to pay out to settle a class action lawsuit. The reason is that the plaintiffs accused SilverGate of colluding with SBF and his associates back in the day, aiding FTX and Alameda in engaging in illegal operations.

The threshold for applying for compensation is actually not high: between April 2019 and November 2022, as long as you deposited fiat currency into SilverGate accounts linked to FTX or Alameda, you basically meet the criteria. However, you need to act quickly, as the deadline for claims is the end of January next year, and the court will make a final decision on February 9.

To be honest, this amount of money may only be a drop in the bucket for many victims, but it at least proves one thing - accomplices must also pay the price.