High-profile celebrities and athletes like Tom Brady and Steph Curry are being sued for promoting cryptocurrency exchange FTX, which lost billions of dollars and filed for bankruptcy.
US crypto investors sued FTX founder Sam Bankman-Fried and several celebrities who promoted his exchange including NFL quarterback Tom Brady and NBA star Stephen Curry, claiming they engaged in deceptive practices to sell FTX yield-bearing digital currency accounts.
The lawsuit seeks damages from Bankman-Fried and 11 athletes and other celebrities who promoted FTX, including comedian Larry David, the creator of “Seinfeld” and “Curb Your Enthusiasm.” Representatives for Bankman-Fried, Brady, Osaka, David, and the Warriors did not immediately respond to requests for comment on Wednesday.
Garrison alleges that while FTX lured US investors to its yield-bearing accounts, it was a “Ponzi scheme” where investor funds were shuffled to related entities to maintain the appearance of liquidity.
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