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BTCC / BTCC Square / Global Cryptocurrency /
Nike Sued Over Closure of Crypto Business Linked to NFTs

Nike Sued Over Closure of Crypto Business Linked to NFTs

Author:
Global Cryptocurrency
Published:
2025-04-27 06:02:02
18
1

Nike faces a proposed class-action lawsuit following the abrupt shutdown of its crypto-focused unit, RTFKT, which left NFT purchasers alleging substantial financial losses. The lawsuit, filed in New York by Australian resident Jagdeep Cheema, claims Nike’s December 2024 termination of RTFKT triggered a collapse in the market for Nike-themed NFTs and related digital assets.

Plaintiffs contend they would not have invested in the NFTs—or paid prevailing prices—had they known the tokens were unregistered securities. The complaint accuses Nike of effectively ’pulling the rug’ by shuttering operations without adequate warning, leaving buyers with devalued assets overnight.

|Square

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