Definitely, the FTX crash continues to cause collateral victims. The latest institution to pay for its proximity to the disgraced exchange is the reigning NBA champion. Golden State Warriors are the target of accusations from a Canadian FTX client. The plaintiff condemns the franchise for its fraudulent promotion of the bankrupt exchange.
Golden State Warriors sued by FTX client in San Francisco
The reigning NBA champion, Golden State, is currently in turmoil. Indeed, the franchise has been the target of a complaint since this week. Elliott Lama Canadian FTX client living in Hong Kong, initiated a class action plan in federal court in San Francisco. According to the information we have, this complaint is on behalf of thousands, if not millions, of people residing outside the United States. These are actually customers who would have traded cryptos through the FTX platform from abroad.
About a year ago, the California franchise named FTX as its primary cryptocurrency platform. The formalization had made the headlines of the press, because at that time it was a real outstanding crypto partnership. It was also a great first, especially in the world of high-level sport.
Lam suspects the Warriors played an instrumental role in the FTX fraud. By agreeing to represent FTX, the Warriors caused fans to invest blindly. The Warriors reportedly assured investors that the company of Sam Bankman-Fried was a “viable and safe way to invest in crypto”. Lam’s frustration is understandable, considering he reportedly lost about $750,000 in his wallet.
This is not the only complaint against the NBA champions 2022. Since November 16, they have been sued by other FTX customers, this time living in the United States. The latter want stars like Stephen Curry, Tom Brady and Naomi Osaka to pay them damages.
Conclusion
In response to the accusation, a Warriors legal officer said the club never discusses outstanding issues. Note that since last week, the American club no longer promotes FTX. Like her, the Miami Heat made the decision to remove FTX from its list of sponsors and would be looking for another one.
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