2024

World

Sam Bankman-Fried, the founder of a bankrupt crypto exchange FTX, has agreed to participate in litigation against celebrities who promoted the platform. This was after majority of crypto users decided to close their case against Sam Bankman-Fried just the other day and project their energy to FTX influencers.
According to his case ruling, Bankman-Fried ruling, he was sentenced to a 25 years imprisonment due to the allegations of defrauding his customers and investors.
As a part of <a href="https://www.courtlistener.com/docket/67478547/618/1/in-re-ftx-cryptocurrency-exchange-collapse-litigation/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">agreement</a> that Bankman-Fried has to comply with FTX investors, he will help identify anyone who could be responsible for fraud due to their celebrity status that they endorsed. Among the celebrities are Tom Brady, Shaquille O’Neal, and Stephen Curry, all athletes, and other figures in high-profile positions.
The lawsuit conveys that the celebrities overstated the safety and security of FTX which though was a contributing factor to the implosion of the platform culminating in its eventual bankruptcy.
Also Read:<a href="https://www.cryptotimes.io/2024/04/24/microstrategy-world-2024-revealed-keynote-speakers/" data-wpel-link="internal" rel="noopener noreferrer nofollow">MicroStrategy World 2024 Revealed Keynote Speakers</a>

FTX Founder Cooperates in Celebrity Suit

The Crypto Times

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