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The rapid collapse of cryptocurrencyThe FTX exchange gave rise to a series of class action lawsuits against its former head Sam Bankman-Fried, as well as media persons whom the platform attracted to advertise its services.
Starting from November 11 in various legalseven collective complaints were filed with the department. Former FTX clients accuse Sam Bankman-Fried, FTX executives and celebrities such as Tom Brady, Kevin O'Leary, Stephen Curry, Trevor Lawrence (Trevor Lawrence) and Shaquille O'Neal (Shaquille O'Neal) for fraud and false advertising.
Class action proceedings have becomeaddition to numerous lawsuits and investigations initiated against FTX and Sam Bankman-Fried. Previously, Terraform Labs co-founder Do Kwon called on troubled companies FTX and Genesis to tell the public the truth and reveal their role in the death of the Terra ecosystem.
As the New York Times reported, New York prosecutors are looking into the possibility of manipulation of the Luna and TerraUSD cryptocurrencies by FTX founder Sam Bankman-Fried.
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