Larry David, Tom Brady other celebs in crypto FTX suit

In a class-action suit against the cryptocurrency exchange FTX, it was said that well-known people helped the lousy business model of the company. People like Larry David and Tom Brady, well-known in Hollywood and sports, were sued. Click Here if you are looking for a reliable platform for trading cryptocurrencies like Bitcoin.

US state and federal officials are looking into a company in the Bahamas and its founder, Sam Bankman-Fried. People say that the company started businesses with the money that depositors gave them without first asking the depositors.

Members of Congress also said they wanted to know what happened to FTX. In December, the House Financial Services Committee noted that FTX would be the subject of a hearing.

Before it went out of business, FTX was known for promoting its products with the help of famous people from Hollywood and sports. It also had the names of a Miami sports center and a British Formula One racing team. David, the creator of “Seinfeld” Brady, the star quarterback of the Tampa Bay Buccaneers; Shaquille O’Neal, Stephen Curry, and Naomi Osaka, all professional athletes in their own fields, were all in its ads.

In the lawsuit, it says, “Part of the FTX Entities’ plan was to use some of the biggest names in sports and entertainment, like the Defendants, to raise money and get American consumers to invest, pouring billions of dollars into the misleading FTX platform to keep the plan going.” This refers to how the FTX Entities used the defendants as part of their plan to get money and get Americans to invest.

Adam Moskowitz, a lawyer for class actions, talked about how Kim Kardashian and Floyd Mayweather were punished in the past for promoting cryptocurrency. In this case, Pierce Robertson is going to court. He is also suing over Voyager Digital, a failed cryptocurrency company that Mark Cuban, owner of the Dallas Mavericks, helped fund. This summer, Voyager Digital tried to leave the business but could not. 

FTX said it would buy Voyager’s assets for $1.4 billion. This would have helped people who had money in Voyager. Since FTX didn’t work, it’s unclear whether it can help Voyager. A court in the southern part of Florida will hear the case. Moskowitz will fight for those who got hurt when a residential tower fell in Surfside, Florida.

A well-known lawyer named David Boies is also named as a counsel in the case. Boies was the lawyer who fought for the US government against Microsoft in the 1990s and against Al Gore in the 2000 election.

The Miami Heat played their first four games away from home on Wednesday. Udonis Haslem is also named as a defendant in the complaint, but he is not with the club because he has other plans.

You can trade cryptocurrency at both FTX and Binance. This means their users can trade one digital currency for another or real money and vice versa.

Sam Bankman-Fried was in charge of the largest exchange in the world, FTX, which is based in the Bahamas. It has spent millions of dollars trying to get the US government to pass laws that are good for crypto to reach its goal. Binance, which is the most significant exchange, is run by Changpeng Zhao. 

He is worth $1,000,000.00. Most of the company’s business is done outside of the U.S. and doesn’t have a primary office. People are looking at the company because they think it broke the rules. Binance was one of the first people to put money into FTX. On November 8, Binance said it would save the struggling company FTX by buying it. In his statement, Zhao clarified that “Binance has the right to back out of the deal at any time.”

Bankman-Fried also said that the deal would protect customers and keep FTX from having to stop processing their withdrawals. He also said, “We are in the best of hands,” which was meant to dispel the idea that FTX and Binance were fighting against each other.