Overview

• U.S. District Judge K. Michael Moore dismissed the majority of investor claims against celebrities and influencers who promoted FTX, citing insufficient evidence they were aware of the platform's fraud.
• High-profile defendants included Tom Brady, Gisele Bündchen, Stephen Curry, and Kevin O’Leary, who were accused of endorsing FTX without disclosing financial incentives.
• The lawsuit stemmed from FTX's November 2022 collapse, which wiped out over $10 billion in customer funds and triggered global investigations.
• Sam Bankman-Fried, FTX's founder, was convicted of fraud in November 2023 for misappropriating billions from customers and investors.
• While most claims against the celebrities were dismissed, a narrow set of state-law claims remains under review.