The NBA champion Golden State Warriors are now among the individuals and organizations involved in a string of class action lawsuits related to the recent FTX crash. Multiple reports suggest that the NBA team is now accused of misleading FTX customers regarding the safety and reliability of the cryptocurrency exchange. Warriors franchise star player Stephen Curry was named along with other celebrities such as Tom Brady and Larry David in a lawsuit alleging that high-profile American sports stars were involved in deceptive practices targeting investors who Fallen victim to the FTX collapse in the US.
Elliot Lam, a Canadian citizen living in Hong Kong, filed a class-action lawsuit on Monday in San Francisco federal court for “thousands, if not millions” of people outside the US who trade cryptocurrency on FTX, according to a report good by Reuters. FTX founders Sam Bankman-Fried and Caroline Ellison, who led Bankman-Fried’s Alameda Research trading firm, are also named as defendants in the lawsuit.
In the lawsuit, Lamm claims that FTX was “falsely representing” a “viable and secure way” to invest in crypto. Lam is seeking damages to the tune of $750,000 (roughly Rs. 6.08 crores) in his FTX account, as well as other damages suffered by customers outside the US.
2022 NBA Champion Announces FTX Was His Official Cryptocurrency Forum, one of the first crypto partnerships in the game. At the time, Brett Harrison, president of FTX US, stated that the partnership with the Warriors provided a secure location for fans overseas to access the franchise’s exclusive collection, increasing FTX’s ability to “not only domestically but also internationally.” level, with one of the most prestigious professional sports franchises in the world.”
partnership between warriors and ftx The basketball franchise dropped the exclusive NFT collection on the platform. FTX placed its logo virtually on the court for the Warriors esports team and on pole pads and press tables for the Santa Cruz Warriors during NBA 2K League games.
Golden State was also involved in a lawsuit (via Bloomberg) 16 in Miami by US-based FTX customers who seek damages from FTX endorsers, including Warriors all-star point guard Stephen Curry, NFL quarterback Tom Brady, comedian Larry David and female tennis star Naomi Osaka.