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FTX class action lawsuit looks to hold powerful celebrities liable
FTX class action lawsuits co-lead counsel Adam Moskowitz explains how he plans to collect the money stolen by Sam Bankman-Fried on The Big Money Show.
Nothing was off limits during the Tom Brady roast on Netflix over the weekend, and a handful of guests capitalized on the opportunity to take a few jabs at the NFL great's connections to now-bankrupt crypto exchange FTX.
"Tom also lost $30 million in crypto," comedian Nikke Glaser said, before joking about the intellect of Brady and fellow retired New England Patriots player Rob Gronkowsky.
Tom Brady attends Netflix Is A Joke Fest's "The Greatest Roast Of All Time: Tom Brady" at The Kia Forum on May 05, 2024 in Inglewood, California. (Monica Schipper/Getty Images / Getty Images)
"Tom, how did you fall for that?" Glaser continued, "I mean, even Gronk was like, ‘Me know that not real money.’"
Brady invested $30 million in FTX and was an "ambassador" for the platform before the exchange went belly-up in November 2022, causing him to lose the funds, according to a report from The New York Times last year.
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The collapse of FTX triggered a class-action lawsuit from investors against founder and former CEO Sam Bankman-Fried, that also named a slew of sports stars that promoted the exchange as defendants, including Brady, Steph Curry, Shaquille O'Neal, Trevor Lawrence, David Ortiz, Shohei Ohtani and Naomi Osaka.
Sam Bankman-Fried, co-founder of FTX Cryptocurrency Derivatives Exchange, leaves court in New York, US, on Wednesday, July 26, 2023. (Photographer: Yuki Iwamura/Bloomberg via Getty Images / Getty Images)
Bankman-Fried has since been convicted of fraud against FTX investors and customers and has been sentenced to 25 years in prison. He is appealing both the conviction and the sentence.
Soon after the crypto exchange went under, the Miami Heat's arena, formerly known as FTX Arena, was renamed.
The logo of FTX is seen at the entrance of the former FTX Arena in Miami, Fla, Nov. 12, 2022. (Reuters/Marco Bello / Reuters Photos)
During the Neflix roast, comedian Kevin Hart also took a hit at Brady over his FTX connection.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| NFLX | NETFLIX INC. | 686.80 | +5.33 | +0.78% |
Netflix, Inc.
"Guys, why didn’t we go to the Crypto.com Arena downtown?" Hart said. "The reason we didn’t go there is because we didn’t want to remind Tom’s fans of how much money he owes them."
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Fellow retired NFL quarterback Peyton Manning threw out a crypto zinger, too.
"Tom is making a donation to every one of his former teammates’ charities that came here tonight. And I gotta tell you, Tom, that is first class", Manning said, adding, "Hey fellas, don’t let him pay you in crypto."
FOX News' Ryan Morik contributed to this report.
