Texas regulators are looking into whether Steph Curry, Tom Brady and other celebrities who promoted the crypto exchange FTX had potentially violated state securities law. This probe is part of the state’s wider investigation into the company’s multibillion-dollar bankruptcy.
And promotions of FTX by celebrities such as the Golden State Warriors’ Steph Curry and the Tampa Bay Buccaneers’ Tom Brady are now part of this broadened investigation, asfiled in Florida against Curry, Brady and other celebrities — mostly high-profile athletes — which alleges that FTX had used their endorsements as part of a scheme designed to take advantage of “unsophisticated investors.” It also names FTX’s former CEO Sam Bankman-Fried.
It’s currently unclear if any prominent Texan would be investigated, but Rotunda said his team is still compiling a list of relevant parties based on recent court filings by FTX’s current CEO John J. Ray III and the class-action lawsuit. In particular, it will be looking at what the promoters disclosed, how they were compensated and how their promotions were scripted and filmed.
He added that his team will also have to consider how the relevant law applies in this situation, since it was established via a“That’s a far cry from social media and broadcast advertisements, let alone tokens and blockchains, right?” Rotunda said.They are not the first celebrities to have been scrutinized or penalized for promoting crypto.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Texas investigates celebrity endorsements of bankrupt crypto firm FTXTexas regulators are looking into whether Steph Curry, Tom Brady and other celebrities who promoted the crypto exchange FTX had potentially violated state securities law. This probe is part of the state’s wider investigation into the company’s multibillion-dollar bankruptcy.
Read more »
Texas investigates celebrity endorsements of bankrupt crypto firm FTXTexas regulators are looking into whether Steph Curry, Tom Brady and other celebrities who promoted the crypto exchange FTX had potentially violated state securities law. This probe is part of the state’s wider investigation into the company’s multibillion-dollar bankruptcy.
Read more »
FTX hacker dumps 50,000 ETH, still among top 40 Ether holdersThe FTX hacker drained nearly $447 million out of multiple FTX global and FTX.US exchange wallets just hours after the crypto exchange filed for Chapter 11 bankruptcy on Nov. 11.
Read more »
Curry, Green, Thompson out for Warriors’ game against New OrleansWarriors: Steph Curry, Klay Thompson, Draymond Green out against Pelicans; Wiggins, Looney questionable
Read more »
The Big Texas Cookbook is a Highlight Reel of Texas Dishes and DreamsThe editors of Texas Monthly have put many of their favorite recipes in one book. The Big Texas Cookbook will likely stir many childhood memories and remind us that the culinary landscape in Texas is wildly diverse. And tasty.
Read more »
Regulatory expert: FTX 'jurisdiction shopped' to locate in lax regulatory environmentA dispute between two FTX entities is spotlighting the problems of a cryptocurrency industry that has companies in multiple countries and no overall regulation.
Read more »