FTX crisis: Billions of dollars in damages claimed from exchange partner stars

In the same basket – The FTX disaster puts several celebrities in the embarrassment. This victim wears the case in US courtevoking damages of more than ten billion dollars.

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FTX crisis and celebrities: time for reckoning

Will he be able to knock them out? Edwin Garrison filed a class action not only against Sam Bankman-Friedbut also against celebrities, athletes, as well as sports teamswho “controlled, promoted, aided and actively participated” in FTX Trading LTD and West Realm Shires Services Inc.

The complaint filed on November 15, with the court for the Southern District of Florida in Miami, notably implicates Tom Brady, Gisele Bundchen, Steph Curry, the Golden State Warriors, Shaquille O’Neal, Udonis Haslem, and Larry David.

Justice will soon have to consider the complaints related to the FTX affair.

To justify his complaint, Edwin Garrison evokes the fact that he bought and fed his account with cryptocurrencies, in order to collect remunerative interest on his assets. Unfortunately, he is one of the victims who suffered “damage” following the collapse of FTX. The complaint puts forward the figure of over $11 billion in damages suffered by American consumers.

Furthermore, the plaintiff accuses the crypto exchange of trying to destroy emails, texts and other evidence, of his criminal activities. This evidence would demonstrate that “FTX was designed to take advantage of unsophisticated investors across the country,” who use mobile apps to make their investments.

The legal proceedings in the FTX case are likely to be complicated, given the statements of the new CEO of the crypto exchange, on the calamitous management of the company under Sam Bankman-Fried.

The events of the past week and the bankruptcy of FTX are there to remind us that we must remain cautious in this still very young ecosystem. Get into the habit of healthy distrust. To buy your cryptocurrencies, sign up now on Bitget and start getting acquainted with the exciting world of blockchain technology (commercial link).

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