On January 31, PANews reported that Bryan Pellegrino, the CEO of the cross-chain interoperability protocol LayerZero, posted on platform X stating, "After more than two years and millions spent on legal fees, we have reached a settlement agreement with the FTX estate. Ultimately, we decided this was not a confrontation between us and FTX, although we felt we had every reason to do so, but rather a confrontation with the creditors. The original repurchase funds have been returned to the FTX estate. I'm glad to no longer be frequently in talks with lawyers and can focus all my energy on building."