Recommended

#BTCCOGWEEK: Celebrate the Classics of Meme Coins
Crypto Deposit Make instant crypto transfers to your futures account
USDT-M Perpetual Futures Trade futures contracts settled in USDT
VIP Fee Discounts Enjoy different fee discounts based on your VIP level
Coin-M Perpetual Futures Trade futures contracts settled in cryptocurrency
Fiat Deposit Buy your favourite coins in seconds
Affiliates Invite friends & get rewarded
Convert Covert your crypto instantly
Support Centre Find our FAQs here
Announcements Find all our official announcements
BTCC Academy Learn about blockchain and crypto
News The latest trends in the crypto market

Promotions

Referral
Campaigns
Assets
Crypto Deposit
Fiat Deposit
Convert
Transfer
Withdraw
My vouchers
Fund history
Dashboard
Account Security
Identity verification
API Management
Transaction Report
Log out
Register
BTCC / BTCC Square / Global Cryptocurrency /
Investors Sue Nike Over Alleged NFT ’Rug Pull’ with RTFKT Shutdown

Investors Sue Nike Over Alleged NFT ’Rug Pull’ with RTFKT Shutdown

Author:
Global Cryptocurrency
Published:
2025-04-28 06:34:02
7
2

Nike faces a $5 million class-action lawsuit filed by NFT holders who allege the sportswear giant executed a ’rug pull’ with its RTFKT platform. The plaintiffs, led by Jagdeep Cheema, claim Nike promoted sneaker-themed NFTs, profited from sales, then abruptly shuttered RTFKT in January 2025—rendering assets worthless.

The lawsuit, filed in New York federal court, accuses Nike of violating consumer protection laws and selling unregistered securities. Plaintiffs argue the NFTs meet the Howey Test criteria, as buyers invested money in a common enterprise expecting profits from Nike’s efforts.

|Square

Get the BTCC app to start your crypto journey

Download on the App Store GEI IT ON Google Play

Get started today Scan to join our 100M+ users

Exchange for a better future

Products
Services
Guides
About Us
Terms & Agreement
Customer Service
Social Media

Risk warning: Digital asset trading is an emerging industry with bright prospects, but it also comes with huge risks as it is a new market. The risk is especially high in leveraged trading since leverage magnifies profits and amplifies risks at the same time. Please make sure you have a thorough understanding of the industry, the leveraged trading models, and the rules of trading before opening a position. Additionally, we strongly recommend that you identify your risk tolerance and only accept the risks you are willing to take. All trading involves risks, so you must be cautious when entering the market.

The world’s longest-running cryptocurrency exchange since 2011 © 2011 - 2025 BTCC.com. All rights reserved