Sam Bankman-Fried, the creator of the failed cryptocurrency exchange FTX, has consented to join lawsuits aimed at celebrities for endorsing the now-defunct platform.
After most cryptocurrency users recently withdrew their opposition to Sam Bankman-Fried and focused their efforts instead on influencing FTX.
Based on the court decision, Bankman-Fried received a sentence of 25 years in prison following accusations that he defrauded both his clients and investors.
Under the terms of Bankman-Fried’s obligation to FTX investors, he is required to assist in the investigation of potential fraud perpetrators among famous endorsers, which includes individuals like Tom Brady, Shaquille O’Neal, Stephen Curry, and other notable figures.
The lawsuit claims that the celebrities misrepresented FTX’s safety and security, which helped lead to the platform’s collapse and ultimate bankruptcy.
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2024-04-24 01:56