An Oklahoma man angry at losing money in the ongoing FTX implosion has filed a class action lawsuit in which he seeks his pound of goat flesh and more, as defendants include Tom Brady , David Ortiz, Larry David, Steph Curry and other celebrities endorsing the crashing crypto exchange.
Wednesday brought even more twists to the saga of FTX and its founder Sam Bankman-Fried, including the eye-catching federal lawsuit and news the House Financial Services Committee expects to hear from the 30-something. who was previously hailed as a hero in the crypto community, but now faces potential civil and criminal charges related to the collapse of FTX.
The panel also expects to hear testimony from representatives of FTX, other crypto exchanges including Binance, the Bankman-Fried hedge fund, Alameda Research and others at a hearing in December.
FTX filed for bankruptcy protection on Friday, sending shockwaves through the cryptocurrency industry, which has seen tremendous volatility this year, including a sharp drop in the price of bitcoin and other digital assets. .
But the sheer scale of FTX’s collapse highlights the massive market risks inherent in the growing crypto industry. Billions of dollars of wealth may have been destroyed in a matter of days. The circumstances have prompted Justice Department and Securities and Exchange Commission investigations and bipartisan alarm over how things have unfolded.
And then there’s the lawsuit, which in addition to targeting Bankman-Fried, also goes after his various celebrity endorsers — including some famous Boston athletes. It brings together longtime New England Patriots star quarterback Brady (“accused Thomas Brady”) and his former supermodel wife Gisele Bundchen as co-defendants, as well as Red Sox legend “Big Papi »David Ortiz.
There’s also NBA great Shaquille O’Neal – who spent time with the Celtics towards the end of his career – as well as the Golden State Warriors basketball team and their star point guard Stephen Curry, comedian Larry David, former NBA player Udonis Haslem. , “Mr. Shark Tank” of “Mr. Wonderful” Kevin O’Leary, Jacksonville Jaguars quarterback Trevor Lawrence, tennis star Naomi Osaka and phenomenal Los Angeles Angels pitcher/outfielder Shohei Ohtani.
The 41-page civil complaint contains photos of each of these celebs, including a lovely photo of Brady and Bundchen, presumably from when the couple were still together before finalizing their divorce a few weeks ago.
The lawsuit argues that the celebrity status of all of these defendants makes them guilty of their promotion of the company’s failing business model.
The suit is listed as for over $5 million. Plaintiff seeks unspecified damages.
— Herald Transmission Services contributed