Golden State Warriors sued for promoting FTX / News - Basketnews.com

Golden State Warriors are being sued for promoting cryptocurrency exchange FTX.

Credit: AFP – Scanpix Credit AFP – Scanpix

Golden State Warriors, among other celebrities, are being sued for promoting cryptocurrency exchange FTX, Reuters report.

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FTX filed for bankruptcy and is facing scrutiny from the United States authorities amid reports that $10 billion in customer assets were shifted from FTX to Bankman-Fried's trading company Alameda Research.

At least $1 billionin client funds are missing, sources have told Reuters.

US crypto investors filed a lawsuit against FTX founder Sam Bankman-Fried and several celebrities, claiming they engaged in deceptive practices to sell FTX digital currency accounts.

Among the defendants in the lawsuit, there are such celebrities as NFL quarterback Tom Brady, tennis star Naomi Osaka, comedian Larry David, the Golden State Warriors, Kim Kardashian, and others.

Representatives for Bankman-Fried, Brady, Osaka, David and the Warriors did not respond to requests for comment on Wednesday, Reuters report.

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