logo

Judge dismisses most charges against FTX’s celebrity boosters

By: the verge|2025/05/09 01:01:31
0
Share
copy
A federal judge in Florida dismissed most claims against athletes, actors, YouTubers, and other celebrities who endorsed Sam Bankman-Fried’s crypto exchange, ruling that there isn’t sufficient proof that they knew about FTX or Bankman-Fried’s fraudulent acts . The high-profile defendants, sued by a group of FTX investors, include Tom Brady and his ex-wife, the model Gisele Bündchen; Shark Tank judge Kevin O’Leary; Larry David; Shohei Ohtani; Udonis Haslem; David Ortiz; Naomi Osaka; and Steph Curry, as well as the entire Golden State Warriors franchise. A group of “YouTuber defendants” who promoted FTX on social media were also sued. Judge K. Michael Moore of the Southern District of Florida cleared both groups of defendants of most claims, writing that the plaintiffs failed to “adequately plead causation” and “plausibly argue Defendants’ knowledge of FTX fraud.” The celebrities who backed Bankman-Fried’s exchange may have been “uninformed, negligent, or even reckless,” Moore wrote, but the FTX investors who sued them didn’t know they “had any knowledge of FTX’s fraud” or “had the requisite intent to deceive and defraud investors.” But that doesn’t mean the case is fully over. The celebrities still face claims for violating state securities laws in Florida and Oklahoma, and Moore ruled that the plaintiffs can amend their complaint — they’ll just need to bring more robust evidence if they do.

You may also like

Uniswap is trapped in an innovation dilemma

The various iterations of Uniswap are one of the sources of vitality in the DeFi market, but since 2023, Uniswap has not proposed any substantial innovations, instead adhering to traditional business explorations in application chains, Launchpads, etc., leading to a slump in token prices and market ...

What is the key to competition in crypto banking?

Digital banks, crypto cards, wallets, super apps, and DeFi protocols are all converging towards the same goal: to become the primary gateway for your savings, spending, earning, and transferring in the new era.

The flow of stablecoins and the spillover effects in the foreign exchange market

Research has found that an exogenous increase in net inflows of stablecoins significantly widens the price deviation between stablecoins and traditional foreign exchange, leads to depreciation of the local currency, and worsens the financing conditions for synthetic dollars (i.e., increases the doll...

After two years, Hong Kong's first batch of stablecoin licenses finally issued: HSBC, Standard Chartered make the cut

The regulated entity is set to launch a stablecoin in the first half of this year.

The person who helped TAO rise by 90% has now single-handedly crashed the price again today

As long as people are around, the story continues. But once they're gone, you may not even find a worthy opponent to play against.

3-Minute Guide to Participating in the SpaceX IPO on Bitget

Bitget IPO Prime brings a rare opportunity for global users to participate in world-class unicorn IPOs, allowing ordinary users to equally access the potential economic benefits of top-tier IPOs.

Popular coins

Latest Crypto News

16:42

The latest disclosed candidate asset list from Gray includes HYPE, STX, VIRTUAL, and others

According to official news, the digital asset investment platform Grayscale has recently updated its list of candidate assets, covering six major cryptocurrency sectors, with new candidate assets particularly concentrated in the AI and finance categories.The AI sector has the most new candidate asse...
16:42

Data: The current 8-hour average funding rate for BTC across the entire network is -0.0043%

According to Coinglass data, the current 8-hour average funding rate for BTC across the network is -0.0043%. Among the current mainstream exchanges, the rate on Binance is -0.0061%, OKX is 0.0047%, Bybit is -0.0032%, and Gate is 0.0001%.
16:42

U.S. media: Vance plays a key role in facilitating U.S.-Iran negotiations

According to a report by CNN on the 11th, citing a senior Pakistani source, U.S. Vice President Vance played a key role in facilitating the U.S.-Iran negotiations set to start in Islamabad, Pakistan.The source familiar with the negotiation process stated that they estimate it will take several days ...
16:42

Data: In the past 24 hours, the total liquidation across the network was 179 million USD, with long positions liquidated at 56.2963 million USD and short positions liquidated at 123 million USD

According to Coinglass data, in the past 24 hours, the total liquidation across the network was $179 million, with long liquidations amounting to $56.2963 million and short liquidations amounting to $123 million. Among them, Bitcoin long liquidations were $7.4717 million, Bitcoin short liquidations ...
16:42

The second batch of Hong Kong compliant stablecoin licenses is now under application

According to Caixin, the second batch of Hong Kong compliant stablecoin licenses is currently under application. Reliable sources reveal that Futu Securities and OSL Group are both contenders for the second batch of licenses. However, in November last year, the People's Bank of China and 13 other mi...
Read more
Community
iconiconiconiconiconiconicon

Customer Support Bot：@WEEX_support_smart_Bot

VIP Services：support@weex.com