Trevor Lawrence, Tom Brady and Shaq among celebrities sued in class-action crypto lawsuit
MUNICH, GERMANY - NOVEMBER 13: Tom Brady #12 of the Tampa Bay Buccaneers speaks to the media after their side's victory in the NFL match between Seattle Seahawks and Tampa Bay Buccaneers at Allianz Arena on November 13, 2022 in Munich, Germany.
The suit alleges Bankman-Fried and those celebrities promoted and encouraged others to invest in FTX, which the lawsuit describes as a"fraudulent scheme." The lawsuit claims FTX was"designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments."
FTX filed for bankruptcy and Bankman-Fried resigned as the company's CEO on Nov. 11. A day prior to announcing FTX's bankruptcy, Bankman-Fried sent out a multi-tweet thread on Twitter. It began with Bankman-Fried apologizing and saying he,"F***ed up, and should have done better." He also referred to himself as,"Not a good dev.
Brady, and all the other celebrities mentioned in the suit, are being sued for promoting FTX. Every celebrity mentioned appeared in some type of ad for FTX. Larry David's FTX ad wasBrady and Bundchen did an add together which features them trying to recruit people to use the company. The lawsuit was filed Tuesday, so it will be some time before it is determined whether FTX owes consumers $11 billion, or an additional amount. It's also unclear how much, if any, damages Brady and the other celebrities will pay to consumers.that fans shouldn’t get financial advice from NFL stars.
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