{"id":508878,"date":"2022-11-16T18:54:02","date_gmt":"2022-11-16T18:54:02","guid":{"rendered":"https:\/\/wncen.com\/?p=508878"},"modified":"2024-06-11T10:36:43","modified_gmt":"2024-06-11T10:36:43","slug":"tom-brady-gisele-bundchen-and-sam-bankman-fried-sued-over-ftx-collapse","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/tom-brady-gisele-bundchen-and-sam-bankman-fried-sued-over-ftx-collapse\/","title":{"rendered":"Tom Brady, Gisele Bundchen And Sam Bankman-Fried Sued Over FTX Collapse"},"content":{"rendered":"

Per a report<\/a> from the Washington Examiner, NFL Legend Tom Brady and others are facing a class action lawsuit from FTX investors. The football player is one of the many celebrity ambassadors who vouched for the crypto exchange platform.\u00a0<\/span><\/strong><\/p>\n

Related Reading: SHIB, XRP Show Strength As Crypto Market Begins Recovery<\/a><\/div>\n

Earlier this week, FTX halted new request withdrawals from its users. Later, its former top executive Sam Bankman-Fried filed for bankruptcy protection in the United States.\u00a0<\/span><\/p>\n

In the meantime, millions of dollars in users\u2019 funds are stuck at the venue. Shortly after, these funds were stolen by a bad actor, adding more uncertainty to a volatile situation.\u00a0<\/span><\/p>\n

According to the report, Edwin Garrison from Oklahoma leads the class action. The document claims FTX was offering its users a securities-based product in alleged violation of U.S. laws. The plaintiff filed the complaint in the Florida Federal Court.\u00a0<\/span><\/p>\n

The complaint claims the following, according to the Washington Examiner:\u00a0<\/span><\/p>\n

The Deceptive and failed FTX Platform was based upon false representations and deceptive conduct, fraudulent scheme was designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments.<\/p><\/blockquote>\n

Tom Brady, Shaquille O\u2019Neal, Larry Davis And Others Under Scrutiny<\/h2>\n

In addition to Tom Brady and Sam Bankman-Fried, the complaints accuse supermodel Gisele Bundchen, the NBA team Golden State Warriors, NBA player Stephen Curry, former NBA player Shaquille O\u2019Neal, Udonis Haslem, tennis player Naomi Osaka, comedian Larry David, and entrepreneur Kevin \u201cMr. Wonderful\u201d O\u2019Leary.\u00a0<\/span><\/p>\n

The complaint claims these individuals allegedly promoted and assisted FTX in its illegal activities. Adam Moskowitz, the attorney representing Garrison and others, stated:\u00a0<\/span><\/p>\n

FTX were geniuses at public relations and marketing and knew that such a massive Ponzi scheme larger than the Madoff scheme could only be successful with the help and promotion of the most famous, respected, and beloved celebrities and influencers in the world.<\/p><\/blockquote>\n

Moskowitz claims FTX implemented a \u201cmastermind\u201d marketing plan to promote its \u201cscheme.\u201d The lawyer quoted O\u2019Neal in one of his videos for the crypto exchange. The NBA promoted the trading platform by stating the following, Garrison\u2019s legal representation said:\u00a0<\/span><\/p>\n

Defendant Shaquille O\u2019Neal, former professional NBA basketball star, sports analyst, and entrepreneur, also became an FTX ambassador, stating in a video posted on FTX\u2019s Twitter account that \u2018I\u2019m excited to be partnering with FTX to help make crypto accessible for everyone. I\u2019m all in. Are you?<\/p><\/blockquote>\n

At the time of writing, there is no official statement from the defendants. The crypto market continues to trend to the downside in the wake of FTX\u2019s collapse.\u00a0<\/span><\/p>\n

Related Reading: Why Ethereum Top Whales Are Accumulating ETH In \u2018Abnormal\u2019 Way<\/a><\/div>\n

Bitcoin, the largest crypto by market capitalization, lost support at around $17,600 and recorded a new yearly low at about $15,500. The general sentiment in the market leans towards fear as market participants expect further depreciation.\u00a0<\/span><\/p>\n

\"Tom
BTC’s price trends to the downside amid FTX’s collapse on the daily chart. Source: BTCUSDT Tradingview<\/strong><\/a><\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Per a report from the Washington Examiner, NFL Legend Tom Brady and others are facing a class action lawsuit from FTX investors. The football player is one of the many celebrity ambassadors who vouched for the crypto exchange platform.\u00a0 Related Reading: SHIB, XRP Show Strength As Crypto Market Begins Recovery Earlier this week, FTX halted new request withdrawals from its users. Later, its former top executive Sam Bankman-Fried filed for bankruptcy protection in the United States.\u00a0 In the meantime, millions of dollars in users\u2019 funds are stuck at the venue. Shortly after, these funds were stolen by a bad actor, adding more uncertainty to a volatile situation.\u00a0 According to the report, Edwin Garrison from Oklahoma leads the class action. The document claims FTX was offering its users a securities-based product in alleged violation of U.S. laws. The plaintiff filed the complaint in the Florida Federal Court.\u00a0 The complaint claims the following, according to the Washington Examiner:\u00a0 The Deceptive and failed FTX Platform was based upon false representations and deceptive conduct, fraudulent scheme was designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments. Tom Brady, Shaquille O\u2019Neal, Larry Davis And Others Under Scrutiny In addition to Tom Brady and Sam Bankman-Fried, the complaints accuse supermodel Gisele Bundchen, the NBA team Golden State Warriors, NBA player Stephen Curry, former NBA player Shaquille O\u2019Neal, Udonis Haslem, tennis player Naomi Osaka, comedian Larry David, and entrepreneur Kevin \u201cMr. Wonderful\u201d O\u2019Leary.\u00a0 The complaint claims these individuals allegedly promoted and assisted FTX in its illegal activities. Adam Moskowitz, the attorney representing Garrison and others, stated:\u00a0 FTX were geniuses at public relations and marketing and knew that such a massive Ponzi scheme larger than the Madoff scheme could only be successful with the help and promotion of the most famous, respected, and beloved celebrities and influencers in the world. Moskowitz claims FTX implemented a \u201cmastermind\u201d marketing plan to promote its \u201cscheme.\u201d The lawyer quoted O\u2019Neal in one of his videos for the crypto exchange. The NBA promoted the trading platform by stating the following, Garrison\u2019s legal representation said:\u00a0 Defendant Shaquille O\u2019Neal, former professional NBA basketball star, sports analyst, and entrepreneur, also became an FTX ambassador, stating in a video posted on FTX\u2019s Twitter account that \u2018I\u2019m excited to be partnering with FTX to help make crypto accessible for everyone. I\u2019m all in. Are you? At the time of writing, there is no official statement from the defendants. The crypto market continues to trend to the downside in the wake of FTX\u2019s collapse.\u00a0 Related Reading: Why Ethereum Top Whales Are Accumulating ETH In \u2018Abnormal\u2019 Way Bitcoin, the largest crypto by market capitalization, lost support at around $17,600 and recorded a new yearly low at about $15,500. The general sentiment in the market leans towards fear as market participants expect further depreciation.\u00a0<\/p>\n","protected":false},"author":535,"featured_media":508879,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[6664,87394,71704,83790],"class_list":["post-508878","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-crypto","tag-ftt","tag-ftx","tag-tom-brady"],"acf":[],"yoast_head":"\nTom Brady, Gisele Bundchen And SBF Sued Over FTX Collapse<\/title>\n<meta name=\"description\" content=\"Per a report from the Washington Examiner, NFL Legend Tom Brady and others are facing a class action lawsuit from FTX investors.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. 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His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide. In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride. He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times. In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson\u2019s \u2018Neuromancer.\u2019 The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau\u2019s \u2018Civil Disobedience.\u2019 But that\u2019s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term. In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry. Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.","sameAs":["https:\/\/www.linkedin.com\/in\/reynaldo-mrquez-2ab111190\/","https:\/\/x.com\/rl_m"],"url":"https:\/\/wncen.com\/author\/reynaldomarquez\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Tom Brady, Gisele Bundchen And Sam Bankman-Fried Sued Over FTX Collapse","url":"http:\/\/wncen.com\/news\/tom-brady-gisele-bundchen-and-sam-bankman-fried-sued-over-ftx-collapse\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/tom-brady-gisele-bundchen-and-sam-bankman-fried-sued-over-ftx-collapse\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Tom-Brady-Sam-Bankman-Fried-FTX-FTT.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Tom-Brady-Sam-Bankman-Fried-FTX-FTT.jpg?fit=640%2C427"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Reynaldo Marquez"}],"creator":["Reynaldo Marquez"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","ftt","ftx","tom brady"],"dateCreated":"2022-11-16T18:54:02Z","datePublished":"2022-11-16T18:54:02Z","dateModified":"2024-06-11T10:36:43Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Tom Brady, Gisele Bundchen And Sam Bankman-Fried Sued Over FTX Collapse\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/tom-brady-gisele-bundchen-and-sam-bankman-fried-sued-over-ftx-collapse\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/tom-brady-gisele-bundchen-and-sam-bankman-fried-sued-over-ftx-collapse\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/Tom-Brady-Sam-Bankman-Fried-FTX-FTT.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2022\\\/11\\\/Tom-Brady-Sam-Bankman-Fried-FTX-FTT.jpg?fit=640%2C427\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Reynaldo Marquez\"}],\"creator\":[\"Reynaldo Marquez\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"ftt\",\"ftx\",\"tom brady\"],\"dateCreated\":\"2022-11-16T18:54:02Z\",\"datePublished\":\"2022-11-16T18:54:02Z\",\"dateModified\":\"2024-06-11T10:36:43Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2022\/11\/Tom-Brady-Sam-Bankman-Fried-FTX-FTT.jpg?fit=640%2C427","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/508878","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/535"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=508878"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/508878\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/508879"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=508878"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=508878"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=508878"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}