Dorsey & Whitney associate Thomas Gorman joins ‘Cavuto: Coast to Coast’ to debate the bipartisan invoice on crypto cash laundering and crypto trade laws following the FTX collapse.
Tom Brady is being sued by a Patriots fan who says they invested tens of 1000’s of {dollars} into now-bankrupt cryptocurrency alternate FTX based mostly on the quarterback’s endorsement of the platform.
Michael Livieratos says he transferred $30,000 from a rival crypto alternate to FTX, and has now joined a category motion lawsuit looking for damages towards a slew of celebrities – together with Brady – who had been paid spokespeople for FTX earlier than it collapsed, dropping billions of {dollars} in buyers’ funds.
Tom Brady #12 of the Tampa Bay Buccaneers walks onto the sphere previous to the sport towards the Carolina Panthers at Financial institution of America Stadium on October 23, 2022 in Charlotte, North Carolina. (Grant Halverson/Getty Photographs / Getty Photographs)
“As a New England Patriots fan my total life, you may think about the affect that Tom Brady would have,” Livieratos instructed The Washington Put up.
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The lawsuit says Brady and his now ex-wife, supermodel Gisele Bündchen, had been “FTX ambassadors” who “joined the corporate’s $20-million advert marketing campaign in 2021,” filming a industrial “displaying them telling acquaintances to hitch the FTX platform.”
Gisele Bundchen and Tom Brady attend the 2019 Met Gala celebrating “Camp: Notes on Trend” at The Metropolitan Museum of Artwork on Might 6, 2019 in New York Metropolis. ((Picture by Taylor Hill/FilmMagic) / Getty Photographs)
Different defendants within the swimsuit embody Bündchen, Golden State Warriors star Stephen Curry, NBA legend Shaquille O’Neal, “Shark Tank” investor Kevin O’Leary and FTX founder Sam Bankman-Fried, who was arrested Monday on a number of expenses linked to his agency’s collapse.
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The swimsuit describes the well-known celebrities as “all events who both managed, promoted, assisted in, and actively participated in FTX Buying and selling and FTX US (collectively, the ‘FTX Entities’), supply and sale of unregistered securities within the type of yield-bearing accounts (YBAs) to residents of the US.”
A federal decide dismissed a cryptocurrency lawsuit this month towards Kim Kardashian and Floyd Mayweather, Jr. (Getty Photographs / Getty Photographs)
The case is much like a category motion filed in January towards celebrities, together with actuality star Kim Kardashian and boxer Floyd Mayweather, who had been paid promoters of Ethereum Max (EMAX) in one other alleged crypto scheme.
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That lawsuit was thrown out by a decide earlier this month, however Kardashian nonetheless paid a $1.26 million nice to the U.S. Securities and Alternate Fee in October for her failure to reveal she was paid $250,000 for a social media publish concerning the EMax tokens.
FOX Enterprise’ Greg Norman and Tracy Wright contributed to this report.
