American football star Trevor Lawrence was one of three celebrities who agreed to settle after being named. FTX class action lawsuit.
Settlement terms
according to a Bloomberg The NFL quarterback reportedly revealed his intention to settle in court documents filed on September 15. The terms of the settlement were not disclosed. This is not unusual, as some settlement agreements are confidential to prevent either party from disclosing the terms of the document, which the other party may wish to keep confidential.
Lawrence is one of many celebrities be accused In class action lawsuit filed by investors Bankrupt cryptocurrency exchange FTX in recognition of their role in promoting cryptocurrency exchanges, culminating in the company’s former CEO Sam Bankman-Freed (SBF) Defrauding investors of their funds.
It is not uncommon for such lawsuits to arise over the endorsement of cryptocurrency projects, especially failed ones, as often These celebrities are in trouble. First, investors believed the celebrities made misleading statements about the legality of the project, causing them to suffer financial losses.
In Lawrence’s case, he sign Enters into long-term agreement with FTX’s cryptocurrency portfolio tracking app Blockfolio. Although the terms of the deal were not disclosed at the time, Blockfolio revealed that it included a “significant signing bonus” that would be paid in cryptocurrencies, including Bitcoin, Ethereum, and Solana.
Reports also claim that YouTube influencers Kevin Paffrath and Tom Nash have agreed to settle a class-action lawsuit against them. Paffrath and Nash have reportedly been paid to use their YouTube channels to promote cryptocurrency exchanges.
Attorneys representing the plaintiffs said in court documents that they are in “ongoing confidential settlement discussions” with other defendants named in the lawsuit and that additional settlements are imminent.
Other celebrities named in the class action lawsuit include Tom Brady, Gisele Bundchen, Stephen Curry, Shaquille O’Neal, Naomi Osaka, Udonis Haslem, Larry David and Kevin O’Leary.
Total crypto market cap at $1.03 trillion on the daily chart: TradingView.com
Lawrence faces another lawsuit
Meanwhile, Lawrence faces another lawsuit related to FTX, the cryptocurrency exchange that recently filed lawsuits against the football player and a number of other celebrities as part of the company’s recovery efforts Promotional payments made to them.
According to the filing, FTX paid Lawrence $205,555 to promote the cryptocurrency exchange. FTX is also seeking to recover payments made to O’Leary, Osaka, David Ortiz, and even the professional basketball team the Golden State Warriors. The filing also names companies including GameStop, Fortune Media and Coachella Music Festival, LLC.
The highlight of this recovery plan, however, was the $3,398,046 FTX raised for naming rights to the home of the professional basketball team the Miami Heat. When the deal closes in 2021, the arena will be renamed FTX Arena. Later it was renamed “Kaseya Center” FTX crash.
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