The National Basketball Association was hit with a lawsuit over its marketing links to failed crypto exchange Voyager Digital Holdings Inc., which investors claim led to $4.2 billion in losses.
The NBA was “grossly negligent” in agreeing to a marketing deal between Voyager and Mark Cuban, the former owner of the NBA’s Dallas Mavericks, the investors alleged in a suit filed Tuesday in Miami. The investors previously sued Cuban for promoting the exchange, which they called “an unregulated and unsustainable fraud” after its collapse in 2022.
