Sam Bankman-Fried, the founder of FTX who faced bankruptcy in 2022, has agreed to assist investors in their legal battle against celebrity endorsers like Tom Brady, Shaquille O’Neal, Stephen Curry, Shohei Ohtani, Gisele Bundchen, and Larry David. These high-profile figures were involved in marketing the crypto exchange, which was once a prominent player in the industry.

The class action lawsuit, filed by attorney Adam Moskowitz, accuses the celebrities of deceptive practices and false claims regarding the safety of crypto assets. As a result of the collapse of FTX, Bankman-Fried has been sentenced to 25 years in prison for defrauding customers. Despite appealing his conviction, he is currently in custody at the Metropolitan Detention Center in Brooklyn.

The investors impacted by the FTX collapse are seeking to recover their losses, and Bankman-Fried’s cooperation could strengthen their case against the celebrity endorsers. If approved by a judge, the agreement will result in the dismissal of civil liabilities against Bankman-Fried in exchange for providing relevant information and documents related to the case.

Celebrities like Shaquille O’Neal, Tom Brady, Gisele Bundchen, and Larry David have all suffered significant financial losses due to their involvement with FTX. The investors involved in the lawsuit are hopeful that Bankman-Fried’s cooperation will help them recoup at least a portion of their losses.

In the world of cryptocurrencies, legal battles and accountability are essential to protect investors and maintain trust in the industry. Stay informed about the latest developments in the crypto world to make informed investment decisions and safeguard your assets.

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