Following the failure of FTX, a well-known cryptocurrency exchange app that they all endorsed, Tom Brady, Gisele Bündchen, and Steph Curry—along with a host of other well-known athletes and celebrities—have all been sued. Just days after users of the FTX platform lost their money when the company unexpectedly collapsed and filed for bankruptcy, the class action lawsuit was submitted to a federal court in Florida on Tuesday.
Sam Bankman-Fried, the head of FTX, allegedly devised a dishonest cryptocurrency scheme “designed to take advantage of unsophisticated investors from across the country,” according to the lawsuit.
Tom Brady, Steph Curry, Larry David And More Celebs Sued Over Collapse Of FTX
Lawyers for Bankman-Fried claim that in order to carry out the plan, he enlisted the aid of Brady, Bundchen, Curry, Shaquille O’Neal, Udonis Haslem, David Ortiz, Trevor Lawrence, Shohei Ohtani, Naomi Osaka, Larry David, and Kevin O’Leary.
The lawyers cited a 2021 advertisement that Brady and Gisele collaborated on, in which the two asked everyone they knew if they would like to join them on the FTX platform. The lawsuit also asserts that an advertisement with Larry David, which ironically depicted the comedian as being dubious of cryptocurrencies. But last week, everything came crashing down because the company essentially ran out of cash to pay users. Consumers lost more than $11 BILLION as a result of everything collapsing, the lawsuit claims, and the plaintiffs are suing to recoup their losses.
This has become a huge story seemingly overnight and has billions of dollars floating around. It will be interesting to see if the plaintiffs do win and get their money back and where it will all come from. It will be a tough case, but one I think will be winnable.
What do you think? Were you aware of FTX before the huge crash and what do you think should happen to Sam Bankman-Fried? Let us know in the comments below.
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