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

PANews reported on December 18th that, according to Cointelegraph, 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 linked 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 choose between exiting or claiming by January 30th 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 dated December 8th requested approval of the proposal, stating it was fair and reasonable and would provide additional compensation beyond what was offered to those affected by the FTX collapse. Judge Ruth Bermudez Montenegro is scheduled to hold a final hearing on February 9th to consider the proposal. Court documents show that the FTX bankruptcy case has contacted over 46,000 potential claimants via email, and the $10 million settlement may be paid pro rataly.