--- title: "Celebrities Are Officially Being Sued by FTX Retail Investors" description: "The first civil suit against the crypto exchange FTX was just filed, naming FTX, Sam Bankman-Fried, and 11 of FTX's many celebrity ambassadors." date: "2022-11-17" modified: "2022-11-17" authors: - name: "Maggie Harrison Dupré" job_title: "Senior Staff Writer" link: "https://futurism.com/authors/mharrison" url: "https://futurism.com/celebrities-sued-by-ftx-investors" categories: - "Blockchain" - "Future Society" tags: - "celebrities" - "crypto" - "ftx" - "tom brady" --- # Celebrities Are Officially Being Sued by FTX Retail Investors ![The first civil suit against the crypto exchange FTX was just filed, naming FTX, Sam Bankman-Fried, and 11 of FTX's many celebrity ambassadors.]() *\Image: Jonathan Ferrey/Getty Images\* Welp, that didn't take long. The first [civil suit]() against the still-imploding crypto exchange FTX was just filed in a Florida court, accusing FTX, [disgraced CEO Sam Bankman-Fried](), and 11 of the exchange's many celebrity ambassadors of preying on "unsophisticated" retail investors. The list of [celeb defendants]() impressive — honestly, it reads more like an invite list to a posh award show than a lawsuit. Geriatric quarterback [Tom Brady]() and soon-to-be-ex-wife Gisele Bündchen lead the pack, followed by basketball players Steph Curry and Udonis Haslem, as well as the Golden State Warriors franchise; tennis star Naomi Osaka; baseballers Shoehi Ohtani, Udonis Haslem, and David Ortiz; and quarterback Trevor Laurence. Also named is comedian Larry David — who starred in *that* [FTX Super Bowl commercial]() that very specifically told investors that even if they didn't understand crypto, they should definitely invest — and investor Kevin O'Leary of "Shark Tank" fame. "The Deceptive and failed FTX Platform," reads the suit," "was based upon false representations and deceptive conduct." "Many incriminating FTX emails and texts... evidence how FTX’s fraudulent scheme was designed to take advantage of unsophisticated investors from across the country," it continues. "As a result, American consumers collectively sustained over $11 billion dollars in damages." Indeed, a number of FTX promos embraced an attitude similar to the cursed Larry David commercial. In one, [Steph Curry tells viewers]() that with FTX, there's no need to be an "expert," while a [Naomi Osaka promotion]() pushed the idea that crypto trading should be "accessible," "easy," and "fun." It's also worth noting that this isn't the first suit of its kind. Billionaire Mark Cuban, also of "Shark Tank" fame, was named in a class action lawsuit [launched against]() the bankrupt lender Voyager in August, while reality TV star Kim Kardashian was recently made to pay a roughly $1.2 million fine for hawking the "EthereumMAX" token without disclosing that she was paid to do so. The FTX suit, however, appears to be the most extensive — and high-profile — of its kind. And while a fine for a million or two is basically a one dollar bill to this tax bracket, $11 billion, even if split amongst a group of 11 exorbitantly wealthy celebs, is a more substantial chunk of change. Of course, whether anyone actually ever has to pay up remains to be seen. Regardless, it's still a terrible look, and real people got hurt. If there's any defense here, though? At least [they didn't promise]() to be experts. **READ MORE:** *[FTX founder Sam Bankman-Fried hit with class-action lawsuit that also names Brady, Bündchen, Shaq, Curry]()* \[*Fox Business*\] **More on the FTX crash:** *[Experts Say Sam Bankman-fried's Best Legal Defense Is to Say He's Just Really, Really Stupid]()* ## Author At Futurism, I've reported extensively on the rise of AI as a cultural and business force shaping the media industry, and more broadly how those dynamics are changing how we all consume and share information and relate to one another. I'm also fascinated by public health policy and ethics, the role of emerging tech in politics and governance — and the powerful people and forces at those intersections — climate change, and the environment. My investigation on Sports Illustrated's use of AI-generated authors with fictional biographies won a 2024 Mirror Award for "Best Story on Media Coverage of Artificial Intelligence in Journalism and the Media" from Syracuse University's SI Newhouse School, I contributed to Niemen Lab's 2025 Predictions for Journalism series, and I've discussed my work for Futurism during appearances on NPR, CNN, the BBC, the CBC, and more. I grew up in rural Pennsylvania and attended the University of Massachusetts Amherst, where I played Division I field hockey for the Minutewomen as a midfielder. Since then, I've lived in New Orleans, Louisiana and Manhattan, New York. I spend my free time running, reading, perusing archival fashion, and searching for the world’s best negroni. I also have a debonair tuxedo cat, Westley, who's named after "The Princess Bride." ### Author social links [Bluesky]()