Stephen Curry # 30 of the Golden State Warriors went to the basket in the second quarter against Dyson Daniels # 11 of the Pelicans of New Orleans at the Chase Center on April 12, 2024 in San Francisco, California.
Kavin Mistry | Getty images
A federal judge from Florida rejected most of the complaints for high-level celebrities and youtubers who promoted the exchange of cryptocurrency, now disappeared FTX, including stars like Tom Brady, Gisele Bündchen, Kevin O'Leary and Stephen Curry.
The decision reduces the scope of a multidistrict litigation extent accusing them of using their fame to market a fraudulent platform.
The trial is based on FTX's catastrophic collapse in November 2022, which wiped billions of dollars in customer funds and sparked surveys worldwide. The complainants accused the stars of having paid millions of dollars to approve the FTX without disclosing their financial incentives, a violation of federal laws and advertising states.
In an order filed on Wednesday, the American district judge K. Michael Moore ruled that the complainants, a group of FTX investors, had not demonstrated that celebrities had sufficient knowledge of the FTX and the misconduct of the CEO SAM BANKMAN Fried to be held responsible for the promotion of the scholarship.
The judge rejected almost all complaints against “celebrity defendants”, who include sports stars and others. The court also authorized the “defendants of Youtuber”, including influencers who would have marketed the FTX via social media, of most allegations.
The decision comes after a long legal battle in which the complainants alleged that celebrities and influencers were responsible for promoting unregistered securities and participation in misleading practices.
