Investors claiming an $11 billion loss in the FTX cryptocurrency exchange collapse are suing major sports entities, including Major League Baseball, Formula 1, and Mercedes-Benz Group AG’s racing team. Alleging involvement in a “massive global fraud,” the lawsuit filed in a Miami federal court targets the sports giants for their promotional partnerships with FTX. This extends a broader class-action suit involving celebrities like Tom Brady and Steph Curry. The investors argue that these endorsements contributed to FTX’s credibility, attracting public enthusiasm for crypto. The case raises questions about the responsibility of sports entities and celebrities in endorsing financial products, impacting the perception and regulation of sports marketing deals in the cryptocurrency sector.
By FCCT Editorial Team
, an independent military force, and allied militias in Sudan raped several dozen women and girls in West Darfur’s capital, El Geneina, and those fleeing to Chad between late April and late June 2023, Human Rights Watch said today. The assailants appear to have targeted people because of their Massalit ethnicity and, in some cases, because they were known activists.){kind=link}