Nearly a dozen high profile celebrities are named defendants in a class action lawsuit against the failed cryptocurrency exchange FTX. Tom Brady, Stephen Curry and Shaquille O’Neal headline a list of playmakers who endorsed the platform through various campaigns.
The lawsuit loops in 11 celebrities and the Golden State Warriors with FTX founder Sam Bankman-Fried, accusing the platform of false representations and deceptive conduct. The crypto exchange collapsed last week after customers rushed to withdraw money based on revelations of blurred financial lines between two of Bankman-Fried’s companies. He is being accused of misusing customer funds, FTX filed for Chapter 11 bankruptcy protection, and more than a million people could be impacted.
“FTX’s fraudulent scheme was designed to take advantage of unsophisticated investors from around the country, who utilize mobile apps to make their investments. As a result, American consumers collectively sustained over $11 billion dollars in damages,” the claim reads.
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