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The federal judge rejected most of the legal demands filed against several celebrities who once promoted the cryptocurrency platform FTX.
Decision Came on May 7 from US District Judge K. Michael Moore.
Returned that a group of investors sued the celebrities have not provided enough evidence that these public figures know anything about FTX’s injustice Before the company collapsed.
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The lawsuit originally called several celebrities, including NFL’s striker Tom Brady, NBA star Stephen Curry, Tennis Naomi Osaka, Kevin O’Leary TV, comedian Larry David and Basketball team Golden State Warriors.
Everyone was Separated in FTX ads or promotions Before the company went bankrupt at the end of 2022.
Judge Moore stated: “Although such behavior shows that the defendants were uninformed, negligent or even reckless, it does not show that the defendants had knowledge of the FTX fraud, or that they had the intention of deceiving or deceiving investors.”
This is said, not all legal risks outside the table. The judge said that investors can re -revise their requests and apply. Also, one part of the lawsuit will continue– The specific accusation that celebrities have helped promote investment products that are not properly registered with regulators.
Meanwhile, Changpeng “CZ” Zhao recently confirmed that he had asked US President Donald Trump for pardon. What prompted his decision? Read the whole story.
After a master’s degree in economics, politics and culture of the East Asia region, Aaron wrote scientific papers by analyzing the differences between Western and collective forms of capitalism in the Era after World War II.
Considering the decade of experience in Fintech industry, Aaron understands all the biggest questions and struggles that cryptocurrency lovers face. He is an avid analyst who deals with the content based on data and facts, as well as the one who speaks to the web3 natives and the newcomer in the industry.
Aaron is a person for everyone and for all related to digital currencies. With a huge passion for Blockchain & Web3 education, Aaron tries to transform the space the way we know it and make it more affordable to complete beginners.
Aaron quoted more established outlets and was the author himself. Even during her free time, she enjoys exploring market trends and looking for the next Supernova.
