Steph Curry, Tom Brady and other celebrities excluded from most FTX investor claims, judge rules
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Introduction:
The news topic “Steph Curry, Tom Brady and other celebrities excluded from most FTX investor claims, judge rules” has drawn international attention, with various media outlets providing diverse insights, historical context, political stances, and on-the-ground developments. Below is a curated overview of how different countries and media organizations have covered this topic recently.
Quick Summary:
- A Florida federal judge has dismissed most of the claims against high-profile celebrities and YouTubers who promoted the now-defunct cryptocurrency exchange FTX. The ruling narrows the scope of a sprawling multidistrict litigation accusing them of using their fame to market a fraudulent platform. The plaintiffs accused the stars of being paid millions of dollars to endorse FTX without disclosing their financial incentives, a violation of federal and state advertising laws. The lawsuit stemmed from FTX’s catastrophic collapse in November 2022, which wiped out billions of dollars in customer funds.
- A Florida federal judge has dismissed most of the claims against high-profile celebrities and YouTubers who promoted the now-defunct cryptocurrency exchange FTX. That includes stars like Tom Brady, Gisele Bündchen, Kevin O’Leary, and Stephen Curry. The ruling narrows the scope of a sprawling multidistrict litigation accusing them of using their fame to market a fraudulent platform. But it’s certainly interesting to see the claims reduced against the remaining defendants, including Brady (who received $55 million for 20 hours a year for three years here, as per Michael Lewis) and Curry. That litigation also references Shaq (who saw quite the service drama here) and Trevor Lawrence.
- Shaquille O’Neal’s failed bid to exit a suit highlights the risks in a developing area of technology and law, attorneys say. The case stems from the loss in value of Astrals and Galaxy nonfungible tokens in the wake of FTX’s collapse in 2022. O’Neal can be considered a seller because the complaint alleges he solicited the tokens’ purchase, Judge Federico A. Moreno said in a ruling Aug. 16. He cited a 2022 decision of the US Court of Appeals for the Eleventh Circuit, Wildes v. BitConnect Int’l PLC, which held that public communications such as podcasts, social media, and videos could be vehicles for soliciting buyers under the Securities Act of 1933, he said..
Country-by-Country Breakdown:
Original Coverage
A Florida federal judge has dismissed most of the claims against high-profile celebrities and YouTubers who promoted the now-defunct cryptocurrency exchange FTX. The ruling narrows the scope of a sprawling multidistrict litigation accusing them of using their fame to market a fraudulent platform. The plaintiffs accused the stars of being paid millions of dollars to endorse FTX without disclosing their financial incentives, a violation of federal and state advertising laws. The lawsuit stemmed from FTX’s catastrophic collapse in November 2022, which wiped out billions of dollars in customer funds. Read full article
Tom Brady, Steph Curry, Naomi Osaka and other FTX celebrity promoters have most claims against them dismissed
A Florida federal judge has dismissed most of the claims against high-profile celebrities and YouTubers who promoted the now-defunct cryptocurrency exchange FTX. That includes stars like Tom Brady, Gisele Bündchen, Kevin O’Leary, and Stephen Curry. The ruling narrows the scope of a sprawling multidistrict litigation accusing them of using their fame to market a fraudulent platform. But it’s certainly interesting to see the claims reduced against the remaining defendants, including Brady (who received $55 million for 20 hours a year for three years here, as per Michael Lewis) and Curry. That litigation also references Shaq (who saw quite the service drama here) and Trevor Lawrence. Read full article
Shaq’s NFT Case Expands Legal Perils for Celebrity Promoters
Shaquille O’Neal’s failed bid to exit a suit highlights the risks in a developing area of technology and law, attorneys say. The case stems from the loss in value of Astrals and Galaxy nonfungible tokens in the wake of FTX’s collapse in 2022. O’Neal can be considered a seller because the complaint alleges he solicited the tokens’ purchase, Judge Federico A. Moreno said in a ruling Aug. 16. He cited a 2022 decision of the US Court of Appeals for the Eleventh Circuit, Wildes v. BitConnect Int’l PLC, which held that public communications such as podcasts, social media, and videos could be vehicles for soliciting buyers under the Securities Act of 1933, he said.. Read full article
Kim Kardashian, Floyd Mayweather Beat Investor Suit Over Crypto Promotions
The proposed class-action suit was brought by a group of investors. The suit alleges that the creators of the EMAX network conspired with celebrities to fraudulently sell the tokens. The case was dismissed by the judge, who said there was no reason to believe the scheme was illegal. The judge also ruled that the case was not a violation of the Securities and Exchange Act of 1934, which was designed to protect investors from fraud. The lawsuit was settled out of court, and no money was exchanged for the right to sue, the judge said. It was the first time the case had gone to court, but it is expected to be brought again in the future, he said. The U.S. Attorney’s Office for the Eastern District of New York is investigating the allegations. Read full article
Global Perspectives Summary:
Global media portray this story through varied cultural, economic, and political filters. While some focus on geopolitical ramifications, others highlight local impacts and human stories. Some nations frame the story around diplomatic tensions and international relations, while others examine domestic implications, public sentiment, or humanitarian concerns. This diversity of coverage reflects how national perspectives, media freedom, and journalistic priorities influence what the public learns about global events.
How did your country report this? Share your view in the comments.
Sources:
- Original Article
- Tom Brady, Steph Curry, Naomi Osaka and other FTX celebrity promoters have most claims against them dismissed
- Shaq’s NFT Case Expands Legal Perils for Celebrity Promoters
- Kim Kardashian, Floyd Mayweather Beat Investor Suit Over Crypto Promotions
Source: https://www.cnbc.com/2025/05/08/ftx-claims-steph-curry-tom-brady-celebrities.html