FTX Celebrity Endorsers Largely Cleared in Lawsuit, But Questions Remain

A U.S. District Judge has dismissed the bulk of the lawsuit against celebrity endorsers of the collapsed crypto exchange FTX, including Tom Brady, Larry David, and Naomi Osaka. The judge ruled that plaintiffs failed to prove these celebrities were aware of FTX’s alleged fraudulent activities. However, claims regarding the promotion of unregistered securities remain under judicial scrutiny. This development highlights the ongoing legal complexities surrounding FTX’s collapse and the role of high-profile endorsements in the cryptocurrency industry.

Tom Brady, Larry David Among Celebs Cleared in FTX Lawsuit—Mostly

Celebrity endorsers of the collapsed crypto exchange FTX have largely escaped legal repercussions this week. A U.S. District Judge ruled that plaintiffs failed to demonstrate stars like Larry David, Naomi Osaka, and Tom Brady were aware of FTX’s alleged fraudulent activities.

While the bulk of the lawsuit was dismissed, claims regarding celebrities promoting unregistered securities remain under judicial scrutiny. The case highlights the ongoing legal fallout from FTX’s dramatic collapse, though key figures in its promotional campaigns have so far avoided significant liability.

Alameda Research Unstakes $32M in Solana — Market Watches for Potential Sell-Off

Alameda Research, the defunct trading firm linked to FTX, has unstaked approximately $32.79 million worth of solana (SOL), sparking speculation about a looming sell-off. The move, executed on May 12, involved 187,600 SOL withdrawn from staking but left untouched in the wallet. With over $900 million in SOL still locked under the same address, the market remains on edge.

Solana’s price trajectory now hangs in the balance. While the unstaking could be routine portfolio management, its timing amid FTX’s bankruptcy proceedings raises questions. No further transfers have occurred yet, but the idle tokens represent a sword of Damocles for SOL holders.