Crypto exchange FTX's sudden bankruptcy is also threatening to catch up with celebrities like model Gisèle Bundchen and her former husband, quarterback Tom Brady.
Lawyers for suspected cryptocurrency buyers are preparing a class action lawsuit in a US federal court in Florida, according to broadcaster CBS, because Bundchen, Brady, comedian Larry David and other figures from the entertainment and sports industry helped former FTX boss Sam Bankman-Fried intended to deceive users of the platform.
The trading platform founded in 2019 by the son of a professor and graduate of the Massachusetts Institute of Technology (MIT) filed for bankruptcy last week.
As American media reported, at least one billion dollars of customer funds are said to have disappeared through "unauthorized transactions".
Commercials for FTX
Bundchen, 42, who divorced Brady three weeks ago, shot a 2021 commercial for FTX with the Tampa Bay Buccaneers football player.
The video “FTX.
You In?” showed the then power couple calling acquaintances and friends to urge them to invest in the crypto exchange.
Also David, known as the inventor of the cult series "Seinfeld" and "Curb Your Enthusiasm", is said to have earned several million dollars as an advertising face.
The 75-year-old New Yorker, who lives in Los Angeles, was commissioned by FTX to shoot the "Don't Miss Out On Crypto" promotional video, which premiered at the Super Bowl last February.
Former basketball star Shaquille O'Neal, tennis player Naomi Osaka, and investor and Shark Tank contributor Kevin O'Leary are also reportedly facing legal action over their connection to the crypto exchange.
Attorney Adam Moskowitz, who is preparing the class action lawsuit, accused them of enabling the crypto exchange’s alleged wrongdoing.
“FTX was a genius at publicity and marketing.
And it knew that such a massive pyramid scheme could only succeed with the help and endorsement of the world's most famous and popular celebrities," said the lawyer.