Welp, that didn't take long. The first civil suit against the still-imploding crypto exchange FTX was just filed in a Florida court, accusing FTX, disgraced CEO Sam Bankman-Fried, and 11 of the exchange's many celebrity ambassadors of preying on "unsophisticated" retail investors.
The list of celeb defendants impressive — honestly, it reads more like an invite list to a posh award show than a lawsuit.
Geriatric quarterback Tom Brady and soon-to-be-ex-wife Gisele Bündchen lead the pack, followed by basketball players Steph Curry and Udonis Haslem, as well as the Golden State Warriors franchise; tennis star Naomi Osaka; baseballers Shoehi Ohtani, Udonis Haslem, and David Ortiz; and quarterback Trevor Laurence.
Also named is comedian Larry David — who starred in that FTX Super Bowl commercial that very specifically told investors that even if they didn't understand crypto, they should definitely invest — and investor Kevin O'Leary of "Shark Tank" fame.
"The Deceptive and failed FTX Platform," reads the suit," "was based upon false representations and deceptive conduct."
"Many incriminating FTX emails and texts... evidence how FTX’s fraudulent scheme was designed to take advantage of unsophisticated investors from across the country," it continues. "As a result, American consumers collectively sustained over $11 billion dollars in damages."
Indeed, a number of FTX promos embraced an attitude similar to the cursed Larry David commercial. In one, Steph Curry tells viewers that with FTX, there's no need to be an "expert," while a Naomi Osaka promotion pushed the idea that crypto trading should be "accessible," "easy," and "fun."
It's also worth noting that this isn't the first suit of its kind. Billionaire Mark Cuban, also of "Shark Tank" fame, was named in a class action lawsuit launched against the bankrupt lender Voyager in August, while reality TV star Kim Kardashian was recently made to pay a roughly $1.2 million fine for hawking the "EthereumMAX" token without disclosing that she was paid to do so.
The FTX suit, however, appears to be the most extensive — and high-profile — of its kind. And while a fine for a million or two is basically a one dollar bill to this tax bracket, $11 billion, even if split amongst a group of 11 exorbitantly wealthy celebs, is a more substantial chunk of change.
Of course, whether anyone actually ever has to pay up remains to be seen. Regardless, it's still a terrible look, and real people got hurt. If there's any defense here, though? At least they didn't promise to be experts.
READ MORE: FTX founder Sam Bankman-Fried hit with class-action lawsuit that also names Brady, Bündchen, Shaq, Curry [Fox Business]
More on the FTX crash: Experts Say Sam Bankman-fried's Best Legal Defense Is to Say He's Just Really, Really Stupid
The post Celebrities Are Officially Being Sued by FTX Retail Investors appeared first on Futurism.
See the original post:
Celebrities Are Officially Being Sued by FTX Retail Investors
- Quietism and Activism | On the Mark [Last Updated On: March 6th, 2018] [Originally Added On: March 6th, 2018]
- Panarchy - Wikipedia [Last Updated On: March 10th, 2018] [Originally Added On: March 10th, 2018]
- Free Advice [Last Updated On: April 6th, 2018] [Originally Added On: April 6th, 2018]
- Markets - Casey Research [Last Updated On: April 6th, 2018] [Originally Added On: April 6th, 2018]
- Use volunteer in a sentence | volunteer sentence examples [Last Updated On: May 7th, 2018] [Originally Added On: May 7th, 2018]
- Christianarchism | the bastion of Christian anarchism! [Last Updated On: May 12th, 2018] [Originally Added On: May 12th, 2018]
- The Atlantean Conspiracy [Last Updated On: May 15th, 2018] [Originally Added On: May 15th, 2018]
- How to download videos from youtube on java? - Stack Overflow [Last Updated On: June 10th, 2018] [Originally Added On: June 10th, 2018]
- Southwest Pilot Was As Cool As A Cucumber During Engine ... [Last Updated On: June 15th, 2018] [Originally Added On: June 15th, 2018]
- Unschooling - Wikipedia [Last Updated On: July 5th, 2018] [Originally Added On: July 5th, 2018]
- Individual - Wikipedia [Last Updated On: July 5th, 2018] [Originally Added On: July 5th, 2018]
- Questions for Head of Department Interview | One Damn Thing [Last Updated On: July 13th, 2018] [Originally Added On: July 13th, 2018]
- The Right and Wrong of Compulsion by the State and Other ... [Last Updated On: July 15th, 2018] [Originally Added On: July 15th, 2018]
- News - WendyMcElroy.com [Last Updated On: August 5th, 2018] [Originally Added On: August 5th, 2018]
- Voluntaryism In Action: Fairy Tale Park In Oregon Gets A ... [Last Updated On: September 26th, 2018] [Originally Added On: September 26th, 2018]
- What is a Voluntaryist? - Zero Aggression Project [Last Updated On: November 21st, 2018] [Originally Added On: November 21st, 2018]
- Do it yourself - Wikipedia [Last Updated On: December 8th, 2018] [Originally Added On: December 8th, 2018]
- Voluntarism | Define Voluntarism at Dictionary.com [Last Updated On: February 16th, 2019] [Originally Added On: February 16th, 2019]
- Amazon.com: Customer reviews: The God of Atheists [Last Updated On: February 23rd, 2019] [Originally Added On: February 23rd, 2019]
- Quick and Clean: 40 Non-Processed Snacks That Meet Your ... [Last Updated On: March 8th, 2019] [Originally Added On: March 8th, 2019]
- Free State Project - Wikipedia [Last Updated On: March 8th, 2019] [Originally Added On: March 8th, 2019]
- The Voluntaryist [Last Updated On: April 26th, 2019] [Originally Added On: April 26th, 2019]
- Hatzalah - Wikipedia [Last Updated On: May 11th, 2019] [Originally Added On: May 11th, 2019]
- Introduction to Voluntaryism - The Art of Not Being Governed [Last Updated On: May 19th, 2019] [Originally Added On: May 19th, 2019]
- The Panarchist Solution to a World Divided - CounterPunch [Last Updated On: December 21st, 2019] [Originally Added On: December 21st, 2019]
- Bear Lake Hill Climbs were a success | News-Examiner - The Herald Journal [Last Updated On: February 12th, 2020] [Originally Added On: February 12th, 2020]
- Satyaniti and Swaraj constitute the historical backbone of India - Global News Hut [Last Updated On: March 26th, 2020] [Originally Added On: March 26th, 2020]
- Satyaniti and Swaraj constitute the historical backbone of the socio-political order of India, through the ages - OpIndia [Last Updated On: March 26th, 2020] [Originally Added On: March 26th, 2020]
- Satyaniti and Swaraj: The True Twin Pillars Of Society - Youth Ki Awaaz [Last Updated On: March 26th, 2020] [Originally Added On: March 26th, 2020]
- Black Friday Is Capitalism at Its Most Beautiful | Cole Webb Harter - Foundation for Economic Education [Last Updated On: July 30th, 2020] [Originally Added On: July 30th, 2020]
- Led Zeppelins Jimmy Page revealed the song that changed his life - Far Out Magazine [Last Updated On: August 8th, 2020] [Originally Added On: August 8th, 2020]
- What you need to know for Thursday, August 6 - Lompoc Record [Last Updated On: August 8th, 2020] [Originally Added On: August 8th, 2020]
- Rocket Propulsion Market 2020: Overview and Share Forecasted to 2027 - Market Research Posts [Last Updated On: August 8th, 2020] [Originally Added On: August 8th, 2020]
- Voluntaryism | Polcompball Wiki | Fandom [Last Updated On: October 8th, 2020] [Originally Added On: October 8th, 2020]
- voluntaryist.com - Fundamentals of Voluntaryism [Last Updated On: October 8th, 2020] [Originally Added On: October 8th, 2020]
- Black Friday Is Capitalism at Its Most Beautiful | Cole Webb Harter - Foundation for Economic [Last Updated On: December 5th, 2020] [Originally Added On: December 5th, 2020]
- Communism Quotes (1054 quotes) - Goodreads [Last Updated On: November 13th, 2021] [Originally Added On: November 13th, 2021]
- Frdric Bastiat Quotes (Author of The Law) [Last Updated On: November 13th, 2021] [Originally Added On: November 13th, 2021]
- Private police in the United States - Wikipedia [Last Updated On: October 19th, 2022] [Originally Added On: October 19th, 2022]
- Alexis de Tocqueville Quotes (Author of Democracy in America) - Goodreads [Last Updated On: October 19th, 2022] [Originally Added On: October 19th, 2022]
- Anarchist symbolism - Wikipedia [Last Updated On: October 27th, 2022] [Originally Added On: October 27th, 2022]
- Richard Epstein - Wikipedia [Last Updated On: October 27th, 2022] [Originally Added On: October 27th, 2022]
- Portal:Libertarianism - Wikipedia [Last Updated On: October 27th, 2022] [Originally Added On: October 27th, 2022]
- Frdric Bastiat Quotes (Author of The Law) - Goodreads [Last Updated On: October 27th, 2022] [Originally Added On: October 27th, 2022]
- Jeff Bezos' Housekeeper Says She Had to Climb Out the Window to Use the Bathroom [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- China Plans to Send Monkeys to Space Station to Have Sex With Each Other [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- Huge Drone Swarm to Form Giant Advertisement Over NYC Skyline [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- Hackers Just Took Down One of the World's Most Advanced Telescopes [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- AOC Says Her Twitter Account Broke After She Made Fun of Elon Musk [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- Chinese Spaceplane Releases Mystery Object Into Orbit [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- That "Research" About How Smartphones Are Causing Deformed Human Bodies Is SEO Spam, You Idiots [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- Elon Musk Meeting With Advertisers, Begging Them Not to Leave Twitter [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- US Gov to Crack Down on "Bossware" That Spies On Employees' Computers [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- This Deepfake AI Singing Dolly Parton's "Jolene" Is Worryingly Good [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- Scientists Found a Way to Control How High Mice Got on Cocaine [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- Scientists Spot "Stripped, Pulsating Core" of Star Caused By Horrific Accident [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- Manslaughter Case Has a Strange Twist: Tesla That Killed Couple Was on Autopilot [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- Twitter Working on Plan to Charge Users to Watch Videos [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- Scientists Use Actual Lunar Soil Sample to Create Rocket Fuel [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- Cats May Be Tampering With Crime Scenes, Scientists Say [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- NASA Sets Launch Date for Mission to $10 Quintillion Asteroid [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- Greta Thunberg Says UN Climate Conference Is a Scam and She's Not Attending [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- There's Something Strange About How These Stars Are Moving, Scientists Say [Last Updated On: November 4th, 2022] [Originally Added On: November 4th, 2022]
- Amazing Map Lets You Scroll Through the Entire Known Universe [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- NASA Tells Astronauts That Tweeting Isn't As Important as Staying Alive [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- Ticketmaster May Have Finally Met Its Match: Furious Swifties [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- So Many People Are Using a Diabetes Drug for Weight Loss That Actual Diabetics Are Having Trouble Getting It [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- Twitter Claims Video of Moon Rocket Launch Is Revenge Porn [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- Experts Excoriate NASA Report Claiming James Webb Wasn't Homophobic [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- Behind the Lawsuit Against Celebs Who Shilled FTX Before Its Spectacular Meltdown [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- Elon Musk Locks Twitter Employees Out Office, Then Asks Them to Meet Him on the 10th Floor [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- "Elon" Plummets in Popularity as a Baby Name for Some Reason [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- Experts Baffled by Why NASA’s “Red Crew” Wear Blue Shirts [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- Startup Says It's Building a Giant CO2 Battery in the United States [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- Panicked Elon Musk Reportedly Begging Engineers Not to Leave [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- Celebrities' Bored Apes Are Hilariously Worthless Now [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- Sam Bankman-Fried Admits the "Ethics Stuff" Was "Mostly a Front" [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- NASA Drops Stunning New James Webb Image of a Star Being Born [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- Former Facebook Exec Says Zuckerberg Has Surrounded Himself With Sycophants [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]
- NASA Orders Press Not to Photograph Launch Site After Moon Mission Takes Off [Last Updated On: November 20th, 2022] [Originally Added On: November 20th, 2022]