Sam Bankman-Fried, founder of the failed crypto exchange FTX, has announced his intent to join legal proceedings against celebrities who endorsed the platform. This decision comes after most FTX users recently dropped their lawsuits against Bankman-Fried and instead focused their efforts on targeting influencers who promoted the now-troubled exchange.
Based on the judgement in his case, Bankman-Fried was given a prison sentence of 25 years due to accusations of swindling both his customers and investors.
In accordance with the terms of Bankman-Fried’s agreement with FTX investors, he is required to assist in investigating any celebrities suspected of involvement in fraud, due to their endorsement of the platform. Notable individuals under scrutiny include athletes Tom Brady, Shaquille O’Neal, and Stephen Curry, as well as other prominent figures.
The lawsuit claims that the celebrities misrepresented the safety and security of FTX, which in turn played a role in the platform’s collapse leading to its bankruptcy.
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2024-04-23 23:16