FTX’s implosion earlier this month rocked the crypto industry. After traders withdrew $6 billion in three days from the platform following news of an FTC investigation into.
What just happened? Remember all the outcry when Larry David appeared in a Super Bowl commercial for now-collapsed crypto exchange FTX? The comedian probably wishes he’d never took part in the ad, too, given that he’s one of several celebrities named in a lawsuit against the platform’s former CEO Sam Bankman-Fried.
FTX’s implosion earlier this month rocked the crypto industry. After traders withdrew $6 billion in three days from the platform following news of an FTC investigation into FTX mishandling withdrawal requests and Binance backing out of a merger deal, the company filed for Chapter 11 bankruptcy protection in the US on Friday.
Now, a class action lawsuit has been launched by investor Edwin Garrison against Bankman-Fried claiming he misled customers and cost investors billions of dollars in damages. The suit also names celebrities and athletes who promoted FTX as co-defendants, they include David, Tampa Bay Buccaneers quarterback Tom Brady, supermodel Gisele Bündchen (Brady’s ex-wife), Golden State Warriors guard Stephen Curry, baseball players Shohei Ohtani and David Ortiz, businessman Kevin O’Leary, and others.
