The complexity of the FTX case has escalated again, as investors recently expanded their legal actions against the law firm Fenwick & West. They accuse the firm of playing a crucial role in the organizational structure design of FTX, although Fenwick & West has previously denied these accusations and attempted to have the court dismiss the lawsuit.

This trend of extending legal liability to related professional service providers not only prolongs the chain of claims but may also affect the recovery process of bankruptcy assets. This method of pursuing 'joint liability' reflects the comprehensive strategy of investors when seeking compensation.

From a more macro perspective, the systemic impact of the FTX collapse on the cryptocurrency market has largely been absorbed by the market. However, these ongoing legal proceedings remain a key factor in determining when investors will be able to recover some of their funds.

It is worth noting that if there are signs of a settlement in these legal disputes, it may have a positive impact on the valuation of FTX claims, and it may also improve the market's expectations for the auction of related assets. This development will bring some much-needed certainty to the entire cryptocurrency ecosystem.

As the case progresses, industry insiders are closely monitoring the potential long-term effects of these legal proceedings on the cryptocurrency regulatory environment. The final outcome of the FTX case may serve as an important reference for similar situations in the future and could promote the introduction of stricter industry self-regulation and regulatory measures.