The lawsuit against Silvergate Bank calls on FTX/Alameda customers to comment on a $10 million settlement.

According to ME News, on December 18 (UTC+8), a class-action lawsuit filed in California against crypto-friendly bank Silvergate Bank is now calling on users with accounts linked to FTX or Alameda Research to participate in the claim. A group of investors is urging Silvergate users who deposited fiat currency into "accounts related to FTX or Alameda" between 2019 and 2022 to file for settlement in the U.S. District Court for the Southern District of California. The lawsuit requires investors to opt out or claim by January 30 to comment on a $10 million settlement proposal. This proposal aims to resolve lawsuits alleging that Silvergate Bank, Silvergate Capital Corporation, and Alan J. Lane aided and abetted FTX, Alameda, and Sam Bankman-Fried infringing on their rights. Court documents filed on December 8 requested approval of the proposal, stating that it is fair and reasonable and provides additional compensation beyond the FTX bankruptcy proceedings to those affected by the collapse. Judge Ruth Bermudez Montenegro is scheduled to hold a final hearing on February 9 to consider the proposal. Court documents show that FTX's bankruptcy case has contacted over 46,000 potential claimants via email, with a potential $10 million settlement or pro rata payment. (Source: ME)