A Florida judge ruled that the plaintiffs failed to prove the celebrities knew about FTX and CEO Sam Bankman-Fried’s misconduct when endorsing the platform. The ruling significantly narrows the scope of the multidistrict litigation targeting celebrities and social media influencers. FTX collapsed in November 2022, erasing billions in customer funds and triggering global investigations. Stephen Curry #30 of the Golden State Warriors drives to the basket in the second quarter against Dyson Daniels #11 of the New Orleans Pelicans at Chase Center on April 12, 2024 in San Francisco, California. Kavin Mistry | Getty Images
A Florida federal judge has dismissed most of the claims against high-profile celebrities and YouTubers who promoted the now-defunct cryptocurrency exchange FTX, including stars like Tom Brady, Gisele Bündchen, Kevin O’Leary, and Stephen Curry.
The ruling narrows the scope of a sprawling multidistrict litigation accusing them of using their fame to market a fraudulent platform.
In an order filed Wednesday, U.S. District Judge K. Michael Moore ruled that the plaintiffs, a group of FTX investors, failed to demonstrate that the celebrities