FTX’s former law firm, celebrity endorsers aim to dismiss lawsuits

Quick Take

  • Fenwick & West, one of several law firms that provided services to FTX and Alameda Research, motioned to dismiss a class action suit accusing the firm of helping FTX defraud customers. 
  • Several celebrities, including Tom Brady, Stephen Curry, and Larry David also filed a motion to dismiss separate litigation against FTX’s promoters.

FTX’s former law firm Fenwick & West has denied any knowledge of wrongdoing within the FTX empire in a motion to dismiss a class action suit brought by FTX investors alleging that the law firm aided and abetted FTX’s fraud. 

While the complaint against Fenwick & West claimed the law firm “...provided services to the FTX Group entities that went well beyond those a law firm should and usually does provide,” in the motion, the firm claims it only operated within the scope of its representation for FTX and had no knowledge of any alleged fraud. 

In response to one particular piece of evidence, an email from key FTX attorney Daniel Friedberg which informed Fenwick, “[s]ome FTX cash and crypto is held by Alameda for the benefit of FTX customers,” the law firm claims that the email does not “...plausibly allege that Fenwick knew of FTX’s alleged violation.

FTX marketers seek relief in separate motion

Several of the high-profile celebrities FTX once employed as marketers, including Tom Brady, Gisele Bündchen, Stephen Curry, Larry David, Shaquille O’Neal, David Ortiz, and Naomi Osaka, filed a separate motion to dismiss the litigation against them, which similarly alleges that the defendants collaborated in the FTX fraud. 


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Yet the plaintiffs “do not allege a single fact supporting their contention” that the celebrities participated in the “secret FTX scheme orchestrated by a small handful of FTX insiders,” the motion claims. 

Earlier this week, three FTX marketers settled the cases against them: Jacksonville Jaguars quarterback Trevor Lawrence and YouTube influencers Kevin Paffrath and Tom Nash. The terms of the settlements remain undisclosed. 

Both Fenwick & West and the celebrities have requested a hearing on their motions to dismiss the litigation against them. 

Disclaimer: The former CEO and majority shareholder of The Block has disclosed a series of loans from former FTX and Alameda founder Sam Bankman-Fried.

© 2023 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

About Author

Zack Abrams is a writer and editor based in Brooklyn, New York. Before coming to The Block, he was the Head Writer at Coinage, a Web3 media outlet covering the biggest stories in Web3. The story he co-reported on Do Kwon won a 2022 Best in Business Journalism award from SABEW. Other projects included a deep dive into SBF's defense based on exclusive documents and unveiling the identity of the hacker behind one of 2023's biggest crypto hacks — so far. He can be reached via X @zackdabrams or email, [email protected].


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