Court Slams Door on FTX’s Lawsuit Against Brady, Bündchen, Curry, and O’Leary

Another day, another crypto legal drama fizzles out—this time with A-list celebrities dodging FTX’s blame game. The judge’s ruling cuts through the noise, leaving the bankrupt exchange’s lawyers scrambling for a Plan B (or is it Plan C?).

Celebrity endorsements? More like expensive souvenirs from crypto’s hype cycle. Meanwhile, retail investors are still waiting for their ‘get-rich-quick’ refunds.

Judge says FTX endorsements don’t equal liability

In his order, Michael Moore wrote that the plaintiffs failed to show that Brady, Gisele, Curry, or O’Leary had “actual knowledge” of the wrongdoing happening behind the scenes.

The court also dismissed nearly all the claims against the so-called YouTuber Defendants, who were accused of using their channels to promote FTX to millions of followers.

The lawsuit was part of a huge multidistrict litigation effort that linked several celebrity and influencer endorsements to the company’s collapse.

Plaintiffs said the stars helped build public trust in a platform that turned out to be a scam. They accused the promoters of pushing unregistered securities and violating ad laws by not disclosing their deals. But the judge wasn’t buying it.

Michael Moore made it clear that unless someone was inside FTX or had real access to what Sam Bankman-Fried was doing, they couldn’t be held responsible just for showing up in ads. He said the complaints didn’t show enough facts to connect these people to the fraud.

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