The Golden State Warriors have been sued on Monday by an FTX account holder who accused the reigning Nationwide Basketball Affiliation champions of fraudulently selling the now-bankrupt cryptocurrency change.
Elliott Lam, a Canadian citizen and Hong Kong resident who mentioned he misplaced $750,000 in his FTX yield-bearing account, filed his proposed class-action lawsuit in San Francisco federal court docket.
Different defendants embrace Sam Bankman-Fried, who based FTX, and Caroline Ellison, who led Bankman-Fried’s buying and selling agency Alameda Analysis.
The workforce had final December named FTX its official cryptocurrency platform, in what it known as a first-of-its-kind cryptocurrency partnership in skilled sports activities.
Lam accused the defendants of falsely representing that FTX was a “viable and secure technique to put money into crypto,” as a way to deceive customers into investing there.
The lawsuit seeks unspecified damages for individuals exterior the United States with FTX yield-bearing accounts.
A Warriors spokeswoman mentioned the workforce doesn't focus on pending authorized issues. Lam’s legal professionals didn't instantly reply to requests for added remark.
The Warriors are additionally a defendant in a Nov. 16 lawsuit in Miami by US-based FTX prospects in search of damages from superstar endorsers like Warriors guard Stephen Curry, quarterback Tom Brady, comic Larry David and tennis participant Naomi Osaka.
It paused promotions associated to FTX final week, in line with printed studies.
One other NBA workforce, the Miami Warmth, on Nov. 11 mentioned it might drop the FTX identify from its house enviornment and search a brand new naming sponsor.
Post a Comment