Welp, that didn't take long. The first civil suit against the still-imploding crypto exchange FTX was just filed in a Florida court, accusing FTX, disgraced CEO Sam Bankman-Fried, and 11 of the exchange's many celebrity ambassadors of preying on "unsophisticated" retail investors.
The list of celeb defendants impressive — honestly, it reads more like an invite list to a posh award show than a lawsuit.
Geriatric quarterback Tom Brady and soon-to-be-ex-wife Gisele Bündchen lead the pack, followed by basketball players Steph Curry and Udonis Haslem, as well as the Golden State Warriors franchise; tennis star Naomi Osaka; baseballers Shoehi Ohtani, Udonis Haslem, and David Ortiz; and quarterback Trevor Laurence.
Also named is comedian Larry David — who starred in that FTX Super Bowl commercial that very specifically told investors that even if they didn't understand crypto, they should definitely invest — and investor Kevin O'Leary of "Shark Tank" fame.
"The Deceptive and failed FTX Platform," reads the suit," "was based upon false representations and deceptive conduct."
"Many incriminating FTX emails and texts... evidence how FTX’s fraudulent scheme was designed to take advantage of unsophisticated investors from across the country," it continues. "As a result, American consumers collectively sustained over $11 billion dollars in damages."
Indeed, a number of FTX promos embraced an attitude similar to the cursed Larry David commercial. In one, Steph Curry tells viewers that with FTX, there's no need to be an "expert," while a Naomi Osaka promotion pushed the idea that crypto trading should be "accessible," "easy," and "fun."
It's also worth noting that this isn't the first suit of its kind. Billionaire Mark Cuban, also of "Shark Tank" fame, was named in a class action lawsuit launched against the bankrupt lender Voyager in August, while reality TV star Kim Kardashian was recently made to pay a roughly $1.2 million fine for hawking the "EthereumMAX" token without disclosing that she was paid to do so.
The FTX suit, however, appears to be the most extensive — and high-profile — of its kind. And while a fine for a million or two is basically a one dollar bill to this tax bracket, $11 billion, even if split amongst a group of 11 exorbitantly wealthy celebs, is a more substantial chunk of change.
Of course, whether anyone actually ever has to pay up remains to be seen. Regardless, it's still a terrible look, and real people got hurt. If there's any defense here, though? At least they didn't promise to be experts.
READ MORE: FTX founder Sam Bankman-Fried hit with class-action lawsuit that also names Brady, Bündchen, Shaq, Curry [Fox Business]
More on the FTX crash: Experts Say Sam Bankman-fried's Best Legal Defense Is to Say He's Just Really, Really Stupid
The post Celebrities Are Officially Being Sued by FTX Retail Investors appeared first on Futurism.
Go here to read the rest:
Celebrities Are Officially Being Sued by FTX Retail Investors
- Green with Envy | How to Spot an Eco-Snob | Part III - November 8th, 2009 [November 8th, 2009]
- EcoLogo - November 8th, 2009 [November 8th, 2009]
- 5 Ways to Green Your Exercise Routine - November 8th, 2009 [November 8th, 2009]
- Seed Bombs - November 8th, 2009 [November 8th, 2009]
- Guerrilla gardening - November 8th, 2009 [November 8th, 2009]
- Green Your Morning Routine - November 8th, 2009 [November 8th, 2009]
- Environmental Benefits of Telecommuting - November 8th, 2009 [November 8th, 2009]
- Safeway Sponsors Portland Community Cleanup - November 8th, 2009 [November 8th, 2009]
- Electric Vehicle Race - November 8th, 2009 [November 8th, 2009]
- Portland Bridge Pedal 2009 - November 8th, 2009 [November 8th, 2009]
- E-waste in Oregon - November 8th, 2009 [November 8th, 2009]
- Bike Sharing in Portland - November 8th, 2009 [November 8th, 2009]
- Bucks for the Bay Challenge - November 8th, 2009 [November 8th, 2009]
- Drive to Make a Difference with MyMPG - November 8th, 2009 [November 8th, 2009]
- Bathroom Sprayers - Green your Toilet Routine - November 8th, 2009 [November 8th, 2009]
- Ubuntu OS can Save Energy - November 8th, 2009 [November 8th, 2009]
- Green Metropolis, David Owen - November 8th, 2009 [November 8th, 2009]
- Sustainable Pens: GLO Pens - November 8th, 2009 [November 8th, 2009]
- International Day of Climate Action - November 8th, 2009 [November 8th, 2009]
- Donate to Oregon Toxics Alliance - November 8th, 2009 [November 8th, 2009]
- Biomass Energy Generation Myths - November 8th, 2009 [November 8th, 2009]
- Crude The Real Price of Oil | Playing in Portland - November 8th, 2009 [November 8th, 2009]
- Pictures From 350 Climate Day in Portland - November 8th, 2009 [November 8th, 2009]
- Arcimoto Electric Vehicles in Oregon - November 8th, 2009 [November 8th, 2009]
- Urban Rooftop Wind Turbines - November 8th, 2009 [November 8th, 2009]
- Chromium 6 Emissions from ESCO in Portland - December 13th, 2009 [December 13th, 2009]
- Food Inc. Review - December 19th, 2009 [December 19th, 2009]
- Making Maps with Google Earth and Google Maps by Shane Bradt of the University of New Hampshire Cooperative Extension - March 23rd, 2010 [March 23rd, 2010]
- Demonstration of Miradi 3.1 by Nick Salafsky of Foundations of Success - March 23rd, 2010 [March 23rd, 2010]
- Advanced Mashups – KML and the Mapping API by Cary Chadwick of the University of Connecticut Center for Land Use Education and Research - March 23rd, 2010 [March 23rd, 2010]
- Demonstration of InVEST by Heather Tallis of the Natural Capital Project - March 23rd, 2010 [March 23rd, 2010]
- GIS Maps Online by Emily Wilson of the University of Connecticut Center for Land Use Education and Research - March 23rd, 2010 [March 23rd, 2010]
- From ArcGIS to Web Maps: Simple Techniques for Publishing GIS Maps Online by Emily Wilson of the University of Connecticut Center for Land Use Education and Research - March 25th, 2010 [March 25th, 2010]
- Demonstration of Marine InVEST by Anne Guerry of the Natural Capital Project - March 31st, 2010 [March 31st, 2010]
- Eliminate and Decrease Styrofoam - March 31st, 2010 [March 31st, 2010]
- Portland Plans to Spend $600 million on Master Bike Plan - April 2nd, 2010 [April 2nd, 2010]
- (Webinar in Spanish) Demostración sobre Vista 2.5 de NatureServe en línea (Webinar) por Ian Varley, Carmen Josse, y Alexandra Sanchez de Lozada de NatureServe. - April 6th, 2010 [April 6th, 2010]
- Using and Adding Your Content to Google Ocean by Charlotte Vick, Google Content Manager of Mission Blue - April 13th, 2010 [April 13th, 2010]
- End Paper Receipts - May 1st, 2010 [May 1st, 2010]
- Demonstration of CanVis by Chris Haynes of NOAA Coastal Services Center - May 6th, 2010 [May 6th, 2010]
- Demonstration of HD.gov Web Portal by Jeff Adkins from NOAA Coastal Services Center - May 13th, 2010 [May 13th, 2010]
- Demonstration of Ecosystem Assessment and Reporting Tool by Steve Schill of The Nature Conservancy - May 13th, 2010 [May 13th, 2010]
- Demonstration of Version 2.0 of the Multipurpose Marine Cadastre by Adam Bode and Brian Smith of NOAA Coastal Services Center - May 17th, 2010 [May 17th, 2010]
- CRUDE Filmmakers Subpoenaed by Chevron - May 22nd, 2010 [May 22nd, 2010]
- Demonstration of the Digital Coast Coastal Inundation Toolkit by Steph Beard, Jodie Sprayberry and Billy Brooks of NOAA Coastal Services Center - May 25th, 2010 [May 25th, 2010]
- Presentation on the Creating Resilient Communities EBM Tool Demonstration Project by Jocelyn Hittle of PlaceMatters - June 10th, 2010 [June 10th, 2010]
- Presentation on Economic Data Needed for EBM by Linwood Pendleton of Duke University - October 11th, 2010 [October 11th, 2010]
- Recycling Water - October 16th, 2010 [October 16th, 2010]
- ODOT Partners with Oregon Toxics Alliance to Reduce Pesticides - October 17th, 2010 [October 17th, 2010]
- Goats Hired to Mow Portland Lot - October 17th, 2010 [October 17th, 2010]
- A World of Health: Connecting People, Place, and Planet - October 17th, 2010 [October 17th, 2010]
- Alternative Recycling Options - October 17th, 2010 [October 17th, 2010]
- No More Bullying the Bull Trout - October 17th, 2010 [October 17th, 2010]
- 1000+ EV Charging Stations Slated for Oregon I-5 Corridor - October 17th, 2010 [October 17th, 2010]
- The Vertical Farm Concept - October 17th, 2010 [October 17th, 2010]
- Blog Action Day 2010 | Water - October 17th, 2010 [October 17th, 2010]
- Eco Districts - October 24th, 2010 [October 24th, 2010]
- Will The Nissan Leaf Thrive? - October 24th, 2010 [October 24th, 2010]
- A Green Railroad - October 24th, 2010 [October 24th, 2010]
- Biomass is not Oregon's clean-energy future as currently promoted - October 24th, 2010 [October 24th, 2010]
- Electrified Parking Spaces - October 24th, 2010 [October 24th, 2010]
- Tree Planting - October 24th, 2010 [October 24th, 2010]
- Three Tips to Reduce Your Carbon Footprint and Live Longer. - October 24th, 2010 [October 24th, 2010]
- Biomass is not Oregon’s clean-energy future as currently promoted - October 31st, 2010 [October 31st, 2010]
- Rail~Volution - October 31st, 2010 [October 31st, 2010]
- Green Streets Initiative - October 31st, 2010 [October 31st, 2010]
- Mayor Kitty Piercy and Envision Eugene - November 7th, 2010 [November 7th, 2010]
- The Willamette River Transit Bridge - November 13th, 2010 [November 13th, 2010]
- Collaborative Learning and Land Use Tools to Support Community Based Ecosystem Management by Chris Feurt of the Wells National Estuarine Research Reserve - November 14th, 2010 [November 14th, 2010]
- Portland Federal Building Begins Green Makeover - November 14th, 2010 [November 14th, 2010]
- Vestas’ New HQ in Portland Shoots for LEED Platinum - November 14th, 2010 [November 14th, 2010]
- College Degrees to Get You in the Environmental Field - November 14th, 2010 [November 14th, 2010]
- Demonstration of openNSPECT, an Open Source Version of the Nonpoint-Source Pollution and Erosion Comparison Tool by Dave Eslinger of NOAA Coastal Services Center - February 14th, 2011 [February 14th, 2011]
- Demonstration of EMDS by Keith Reynolds of the US Forest Service - February 14th, 2011 [February 14th, 2011]
- Demonstration of Habitat Priority Planner by Chrissa Waite and Danielle Bamford of NOAA Coastal Services Center - February 14th, 2011 [February 14th, 2011]
- Presentation on the Coastal Adaptation to Sea Level Rise Tool (COAST) by Sam Merrill of the New England Environmental Finance Center - February 14th, 2011 [February 14th, 2011]
- Presentation on the Coastal and Marine Ecological Classification Standard by Kathy Goodin of NatureServe - February 14th, 2011 [February 14th, 2011]
- Demonstration of Coral Reef Scenario Evaluation Tool (CORSET) by Jessica Melbourne-Thomas of the University of Tasmania - February 14th, 2011 [February 14th, 2011]
- Demonstration of Multi-scale Integrated Models of Ecosystem Services (MIMES) by Roel Boumans and David McNally of AFORDable Futures LLC - February 14th, 2011 [February 14th, 2011]
- Creating Life in the Desert - February 14th, 2011 [February 14th, 2011]