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Tom Brady, Stephen Curry, Shaq, and Naomi Osaka are sued in a crypto class-action

Tom_Brady,_Stephen_Curry,_Shaq,_and_Naomi_Osaka_are_sued_in_a_crypto_class-action

On Tuesday, a class action cryptocurrency lawsuit was launched in Florida, naming as defendants Tom Brady of the Tampa Bay Buccaneers and several other prominent sportsmen, such as Stephen Curry and Naomi Osaka.

A class action lawsuit was filed against FTX creator Sam Bankman-Fried and the celebrities who promoted the bitcoin exchange. Defendants also include Shaquille O’Neal, David Ortiz, Shohei Ohtani, Trevor Lawrence, and Udonis Haslem, in addition to Tom Brady, Stephen Curry, and Naomi Osaka. The Golden State Warriors, FTX’s primary partner, as well as Brady’s ex-wife and supermodel Gisele Bundchen, comedian Larry David, and “Shark Tank” star Kevin O’Leary, are all included in the lawsuit.

The lawsuit claims that Bankman-Fried and the celebrities promoted FTX, which is claimed to be a “fraudulent scheme.” and encouraged others to join. The lawsuit claims that FTX is “designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments.”

In the wake of Bankman-resignation Fried’s as CEO and the company’s bankruptcy filing on November 11, FTX began the liquidation process. The day before declaring FTX’s bankruptcy, Bankman-Fried sent a series of tweets. Bankman-Fried started off by saying he “F***ed up, and should have done better.” confessing his mistakes and offering an apology. Not only that, but he claimed he was “Not a good dev.”

Total damages sought in the lawsuit are $11 billion

Tom and Gisele Bundchen Brady, along with the other named celebrities, are being sued for their roles in an FTX advertising campaign. Every one of those famous people has been featured in an FTX commercial. The FTX commercial starring Larry David debuted during the big game.

Brady and Bundchen worked together on a commercial in which they promote the company and try to get people to sign up as clients.

It will take some time to assess whether or not FTX actually owes its users $11 billion, considering the lawsuit was only filed on Tuesday. Also unknown is the extent of consumer damages that Brady and the other celebrities will be responsible for paying.

That figure might end up being zero. Even if that’s the case, FTX’s demise is another proof of why NFL fans shouldn’t take the players’ word for their financial decisions.

About Nicolle

She is an Indian Freelance writer. She loves thinking, learning, and writing about all things Web3.

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