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Celebrities face class action lawsuit for the promotion of FTX

NFL quarterback Tom Brady, Supermodel Giselle Bundchen, NBA Legend Shaquille O’Neal, famous comedian Larry David, this is just the beginning of the list of celebrities who endorsed and promoted FTX. 
They are now the target, alongside FTX’s founder Sam Bankman-Fried, of a class action lawsuit, filed Tuesday night in Miami. The suit alleges that the accused parties either « controlled, promoted, assisted in, and actively participated in FTX ».
It was reported that FTX lent up to $10 billion worth of customer deposits to fund Alameda Research’s trading.
Aside from the « unsophisticated investors », a.k.a. retail investors, the list of companies and exchanges impacted by the exchange’s collapse is expanding rapidly. It includes, the Solana ecosystem, Blockfi, Genesis and more recently Gemini, run by the Winklevoss brothers.

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