This complaint was filed in Florida federal court on 15 November on behalf of FTX users. It names these celebrities as well as former CEO Sam Bankman Fried.
According to the lawsuit, each defendant “either controlled or promoted, assisted in, [or] actively took part in FTX Trading” in order to encourage investment on the platform. The suit also refers to it as a Ponzi scheme.
The suit claims that defendants could lose $11 billion due to FTX’s collapse. It seeks unspecified monetary damages.
FTX filed for Chapter 11 bankruptcy on 11 November in the US. Following a week of chaos, Bankman-Fried was forced to resign as CEO. The platform’s users had rushed to withdraw $6 billion in less than 72 hours. Rival Binance renounced a rescue plan.
Numerous celebrities who were once supporters of the brand have sought to distance themselves from it. Brady deleted a few tweets tagging Bankman Fried and the Miami Heat basketball team removing FTX’s logo from its roof.