Did you lose money in the collapse of cryptocurrency firm FTX? Maybe you can get some of it back by suing Steph Curry and the Warriors, because there’s a class action lawsuit against them and other sports stars like Tom Brady who endorsed the now-worthless digital currency exchange.
The internet had a good laugh at your Golden State Warriors on Monday night over their Jordan Poole bobblehead promotion. Yes, it is funny that Poole is depicted doing a cannonball into a swimming pool, a nod to his “Poole Party” nickname. But what is more hilarious here, as seen below, is that the bobblehead bore the logo of cryptocurrency firm FTX, which had just filed bankruptcy three days earlier, and is now facing criminal investigations over making billions of dollars of their customers’ money disappear.
POOLE PARTY ⛱— Chase Center (@ChaseCenter) November 15, 2022
First 10,000 fans in the building receive tonight’s bobblehead! pic.twitter.com/feZLRWzDNO
The FTX logo was even still on the court at Chase Arena the day that FTX declared bankruptcy! Well, the cleanup is underway, as ESPN reports the Warriors have removed all FTX promotions from their court and promotional schedule. But there may be more and pricier fallout from the promotional deal, as the Bay Area News Group notes there's a class action lawsuit from jilted FTX investors against the Warriors, Steph Curry, and other celebrity FTX endorsers like Tom Brady and Shaquille O’Neal.
The important question is will the Warriors have the FTX logo removed from the court when they play their next home game on Friday? pic.twitter.com/AUS2TlDIWY— Jake (@EconomPic) November 9, 2022
“FTX’s fraudulent scheme was designed to take advantage of unsophisticated investors from across the country, who utilize mobile apps to make their investments,” Oklahoma resident and attorney Edwin Garrison said in the federal court in South Florida. “As a result, American consumers collectively sustained over $11 billion dollars in damages.”
About this Oklahoma attorney Edwin Garrison — it appears he’s the only plaintiff in the suit right now. We don’t even know if he lost money on the deal, or held any FTX currencies. But he’s clearly seeking people who lost money to join into his lawsuit, and he says “thousands, if not millions, of consumers nationwide” would be eligible.
Am totally owning up to my schadenfreude at seeing the @FTX_Official logo being removed from the Memorial Stadium field at at Cal this morning. @SBF_FTX @CalBearsHistory @CalFootball @berkeleyside @BerkeleyScanner pic.twitter.com/1XWwzovzlR— Douglas Fir-rederic (@dsmithBerkeley) November 14, 2022
Despite their many FTX promotions, the Warriors probably will not see most of the $10 million they were promised by FTX. But they aren’t even the team burned the worst on this deal. The Miami Heat will lose out on most of the $135 million they were owed for naming their stadium FTX Arena. And closer to home, UC Berkeley surely won’t see most of the $17.5 million they were due from FTX for a naming rights deal at their football stadium, for as you see above, that logo was removed Monday.
Image: FTX via Youtube