Another lawsuit filed against Golden State Warriors for promoting FTX / News - Basketnews.com

A citizen outside the US sued the Golden State Warriors for presenting now-bankrupt FTX as a viable investing opportunity.

Credit: AP - Scanpix Credit AP - Scanpix

After getting sued by US cryptocurrency investors last week, the Golden State Warriors are being brought to court once again for their promotion of now-bankrupt FTX.

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Elliott Lam, a Canadian citizen and Hong Kong resident, filed a class-action lawsuit in San Francisco federal court, Reuters report. The main Lam's motivation is bringing attention to the "thousands, if not millions" of customers outside the US.

The world's third-largest cryptocurrency exchange FTX filed for bankruptcy several weeks ago after it was no longer able to fulfill customers' withdrawal requests following several notable events.

The Warriors had named FTX to be its official cryptocurrency platform while calling it a first-of-its-kind cryptocurrency partnership in professional sports. Lam accused the organization of falsely representing that FTX was a "viable and safe way to invest in crypto," in order to deceive people into investing there.

According to CNBC, FTX offered $10 million for in-game promotions during Warriors games.

FTX had deals with the Warriors and the Washington Wizards as well as Stephen Curry.

The Miami Heat's arena was named after the company. The organization has since rescinded the name and is looking for a new naming rights sponsor.

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