May 9, 2025 | JacobiJournal.com – Miami, FL – FTX Investor Lawsuit: A federal judge has narrowed but not dismissed a lawsuit that seeks to hold celebrities like Tom Brady, Stephen Curry, and Shohei Ohtani accountable for promoting the failed cryptocurrency platform FTX.
The investors allege that the celebrity endorsers ignored red flags and secretly accepted millions to serve as FTX brand ambassadors. They claim these actions amounted to a civil conspiracy to defraud customers.
Most Claims Dismissed, But Key Allegations Survive
On May 8, U.S. District Judge K. Michael Moore dismissed 12 of 14 claims, finding the investors failed to show the celebrities knew FTX was a fraudulent operation. He ruled that accepting payment alone does not prove conspiracy.
However, the judge let two claims survive. He found it plausible under Florida law that the defendants helped FTX sell unregistered securities. A related Oklahoma claim was also allowed to proceed. These remaining claims rely on strict liability statutes, which do not require proof of intent or knowledge of wrongdoing.
Celebrity Endorsers Still Facing Legal Pressure
The lawsuit continues against several high-profile figures, including:
- Tom Brady
- Stephen Curry
- Shohei Ohtani
- Naomi Osaka
- David Ortiz
- Gisele Bündchen
- Kevin O’Leary
- Larry David
- The Golden State Warriors
Plaintiffs say these endorsers misled the public by promoting FTX without disclosing their compensation or performing proper due diligence.
Investors Plan to Expand Lawsuit
Adam Moskowitz, who represents the investors, called the ruling a win. He announced plans to file an amended complaint that could include Major League Baseball and Formula 1 Racing as new defendants.
Some celebrities, including Shaquille O’Neal and Trevor Lawrence, have already settled.
Background: FTX’s Fall and Bankman-Fried’s Conviction
FTX Investor Lawsuit: FTX filed for bankruptcy in November 2022. In October 2023, a judge approved a plan to repay customers. Founder Sam Bankman-Fried was convicted of fraud and sentenced to 25 years in prison, though he is currently appealing.
The case is being heard in the Southern District of Florida under the title:
In re FTX Cryptocurrency Exchange Collapse Litigation, No. 23-md-03076.
⚖️ Why It Matters
This case shows that celebrities who promote financial products—especially unregistered securities—may face legal consequences, even if they claim ignorance. It also signals stricter accountability in how influencers promote digital assets.
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