The Texas State Securities Board has reportedly expanded its investigation into FTX’s operations and its subsequent bankruptcy to now include scrutinizing promotions by celebrities like Tom Brady and Stephen Curry
“Anyone who renders investment advice in Texas typically needs to be registered and they typically have to truthfully disclose all known material facts,” said Joe Rotunda, director of enforcement at the Texas State Securities Board, to the. “In Texas, there is not a different system of justice or regulation for people who are celebrities.”being filed last week that also names Curry and Brady, among a slew of other celebrities as well as the Warriors.
The lawsuit claims they, among others, “either controlled, promoted, assisted in, and actively participated” in the alleged scheme where they “aggressively marketed” FTX. The filing described FTX as “truly a house of cards, a Ponzi scheme where the FTX Entities shuffled customer funds between their opaque affiliated entities, using new investor funds obtained through investments in the YBAs and loans to pay interest to the old ones and to attempt to maintain the appearance of liquidity.
Celebrities are not immune to being penalized for promoting cryptocurrency. Just last month, Kim Kardashian agreed to pay a settlement of $1.26 million to the SEC after allegations arose that she violated U.S. securities rules. The 42-year-old allegedly promoted a crypto token on her Instagram but did not reveal that it was a paid promotion. Kardashian received $250,000 for the post.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Texas Investigates Tom Brady, Steph Curry's FTX Ads | CoinMarketCapCryptonews Tom Brady was one of a gaggle of sports superstars that the bankrupt crypto exchange's CEO, Sam Bankman-Fried, endorsed FTX 😶
Consulte Mais informação »
The Big Texas Cookbook is a Highlight Reel of Texas Dishes and DreamsThe editors of Texas Monthly have put many of their favorite recipes in one book. The Big Texas Cookbook will likely stir many childhood memories and remind us that the culinary landscape in Texas is wildly diverse. And tasty.
Consulte Mais informação »
Here comes the slowdown: Texas’ sky-high sales tax growth falls back to earthIn November, monthly sales tax allocations for all taxing entities rose 7.1% compared with a year earlier, the Texas comptroller reported. That’s less than...
Consulte Mais informação »
Rare Tom Brady memorabilia at center of lawsuit gets facelift from superstar quarterbackA New England Patriots superfan took solace in a gesture to rectify an issue with his piece of memorabilia that's the centerpiece of a lawsuit against the team.
Consulte Mais informação »
Curry, Green, Thompson out for Warriors’ game against New OrleansWarriors: Steph Curry, Klay Thompson, Draymond Green out against Pelicans; Wiggins, Looney questionable
Consulte Mais informação »
Tom Brady, Gisele Bündchen and Other Celebs Named in FTX LawsuitHigh-profile celebrities including Tom Brady, Stephen Curry and Larry David were named as defendants in a lawsuit for their roles in promoting crypto exchange FTX. The lawyer behind the suit, Adam Moskowitz of Moskowitz Law Firm, discusses the legal considerations of the case and the outlook for celebrity crypto endorsements.
Consulte Mais informação »