Tom Brady has sued a Patriots fan who lost $30,000 in the FTX collapse
Thomas Gorman, partner at Dorsey & Whitney, joins “Cafuto: Coast to Coast” to discuss bipartisan legislation on crypto money laundering and crypto industry regulations following the FTX crash.
Tom Brady is being sued by a Patriots fan who says they invested tens of thousands of dollars in now-bankrupt cryptocurrency exchange FTX based on a quarterback’s endorsement of the platform.
Michael Leviratos says he transferred $30,000 from a rival cryptocurrency exchange to FTX, and has now joined a class-action lawsuit seeking damages against a slew of celebrities — including Brady — who made speaking salaries for FTX before it collapsed, losing billions of dollars. from investors. funds.
Tom Brady #12 of the Tampa Bay Buccaneers walks to the field before the game against the Carolina Panthers at Bank of America Stadium on October 23, 2022 in Charlotte, North Carolina. (Grant Halverson/Getty Images/Getty Images)
“As a lifelong New England Patriots fan, you can imagine the impact Tom Brady would have,” Leviratos told The Washington Post.
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The lawsuit says Brady and his ex-wife, model Gisele Bundchen, were “FTX ambassadors” who “joined the company’s $20 million advertising campaign in 2021,” filming a commercial “showing them telling acquaintances to join the FTX platform.”
Gisele Bundchen and Tom Brady attend the 2019 Met Gala celebrating “Camp: Fashion Notes” at the Metropolitan Museum of Art on May 6, 2019 in New York City. ((Photo by Taylor Hill/FilmMagic)/Getty Images)
Other defendants in the lawsuit include Bündchen, Golden State Warriors star Stephen Curry, NBA legend Shaquille O’Neal, “Shark Tank” investor Kevin O’Leary and FTX founder Sam Bankman Fried, who was arrested Monday on multiple charges linked to his company. collapse.
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The lawsuit describes the FTX Entities as “all parties that control, promote, assist, and actively participate in the trading of FTX and FTX US (collectively, the “FTX Entities”), and the offering and sale of unregistered securities in the form of Yield-Bearing Accounts (YBAs) to residents of the United States. “.
A federal judge dismissed a cryptocurrency lawsuit this month against Kim Kardashian and Floyd Mayweather Jr. (Getty Images/Getty Images)
The case is similar to a class-action lawsuit filed in January against celebrities, including reality star Kim Kardashian and boxer Floyd Mayweather, who got paid promoters of Ethereum Max (EMAX) in another alleged crypto scheme.
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That lawsuit was dismissed by a judge earlier this month, but Kardashian still paid a $1.26 million fine to the US Securities and Exchange Commission in October for failing to disclose that she was paid $250,000 for a social media post about the tokens. eMax.
FOX Business’s Greg Norman and Tracy Wright contributed to this report.
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