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FTX celebrity promoters say crypto investors cannot sue over accounts
FTX celebrity promoters say crypto investors cannot sue over accounts

Celebrities who promoted FTX, including NFL quarterback Tom Brady and comedian Larry David, said an investor lawsuit seeking damages in the wake of the cryptocurrency exchange's collapse should be dismissed. The proposed class action in Miami alleges that FTX yield-bearing accounts were unregistered securities that were unlawfully sold in the United States, which required the promoters to disclose the compensation they received. The lawsuit seeks damages from FTX founder Sam Bankman-Fried alon
Robinhood says SEC issued subpoena related to crypto operations
Robinhood says SEC issued subpoena related to crypto operations

The collapse of Sam Bankman-Fried's FTX was the biggest in a string of major crypto-related failures in 2022, which sparked a cryptocurrency rout and left creditors facing losses of billions of dollars. FTX filed for bankruptcy in November, which spurred an intervention from regulators around the world and dealt a blow to investor sentiment in the sector. The SEC has maintained that pre-existing securities laws also apply to digital assets and that many crypto tokens meet the definition of a s
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