FTX Crypto and Tokens Investor Investigation

12.02.2022

Girard Sharp is investigating potential claims on behalf of investors who suffered losses because of FTX’s recent collapse.

If you suffered investment losses, including through placing money or cryptocurrency in the FTX exchange or acquiring FTX Tokens, fill out the form below for a free consultation with a Girard Sharp attorney.

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More Details on the FTX and FTT Investigation

FTX is a cryptocurrency exchange, a platform on which investors can trade digital cryptocurrencies for other digital currencies or traditional money.

FTX created its own crypto called the FTT Token. On FTX, users were encouraged to purchase these tokens so that they could execute trades on the company’s exchange at a discount. Token holders also could use FTTs as collateral and were treated as VIPs.

On November 2, 2022, CoinDesk published an article revealing that Alameda Research (founded by FTX’s co-founder) had a balance sheet full of FTT. Binance announced that it would offload all of its remaining FTX tokens “due to recent revelations that have come to light.”

A week later, Binance pulled out of its agreement to take over FTX. FTX ultimately crashed due to a lack of liquidity and mismanagement of funds, after which numerous investors sold their FTX investments.

The price of FTT has dropped more than 90% since November 8, 2022.

If you purchased or acquired FTX Tokens (FFF) or placed money or cryptocurrency in the FTX exchange and suffered losses, you may have a claim. Call us toll-free at (866) 981-4800 or submit your information using the form above for a free consultation with a Girard Sharp attorney.

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We served on the leadership team in the securities litigation following the collapse of Lehman Brothers, the largest bankruptcy in U.S. history, in which total recoveries for investors exceeded $700 million. We also serve on the Plaintiffs’ executive committee in the recent spoofing litigation against JPMorgan Chase that settled for $60 million, a favorable resolution that the district court preliminarily approved in December 2021. When Sallie Mae, the leading provider of student loans in the United States, misled the public about its financial performance to inflate the company’s stock price, we recovered $35 million for investors in the company. Read more about our securities and investment cases here.

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