Beautiful Virgin Islands

Thursday, Jun 26, 2025

NBA champion Golden State Warriors are sued over FTX collapse

NBA champion Golden State Warriors are sued over FTX collapse

The Golden State Warriors were sued on Monday by an FTX customer who accused the reigning National Basketball Association champions of fraudulently promoting the now-bankrupt cryptocurrency exchange.
Elliott Lam, a Canadian citizen and Hong Kong resident, filed his proposed class-action lawsuit in San Francisco federal court on behalf of "thousands, if not millions" of people outside the United States who traded on FTX's platform.

Other defendants include Sam Bankman-Fried, who founded FTX, and Caroline Ellison, who led Bankman-Fried's trading firm Alameda Research.
The Warriors last December had named FTX its official cryptocurrency platform, in what it called a first-of-its-kind cryptocurrency partnership in professional sports.

Lam accused the defendants of falsely representing that FTX was a "viable and safe way to invest in crypto," in order to deceive people into investing there.

The lawsuit seeks damages under California consumer laws for customers outside the United States with FTX yield-bearing accounts. Lam said he lost $750,000 in his account.

A Warriors spokeswoman said the team does not discuss pending legal matters. Lam's lawyers did not immediately respond to requests for additional comment.

The Warriors are also a defendant in a Nov. 16 lawsuit in Miami by U.S.-based FTX customers seeking damages from celebrity endorsers like Warriors guard Stephen Curry, quarterback Tom Brady, comedian Larry David and tennis player Naomi Osaka.

Last week, the Warriors paused promotions related to FTX, according to published reports.

Another NBA team, the Miami Heat, on Nov. 11 said it would drop the FTX name from its arena and seek a new naming sponsor.

FTX filed for Chapter 11 protection on the same day. The Heat is not a defendant in the Miami lawsuit.
Newsletter

Related Articles

Beautiful Virgin Islands
0:00
0:00
Close
UK to Enhance Nuclear Capabilities with Acquisition of F-35A Fighter Jets
Russian Shadow Payments via Cryptocurrency Reach $9 Billion
Explosions Rock Doha as Iranian Missiles Target Qatar
“You Have 12 Hours to Flee”: Israeli Threat Campaign Targets Surviving Iranian Officials
Macron and Merz: Europe must arm itself in an unstable world
Germany and Italy Under Pressure to Repatriate $245bn of Gold from US Vaults
Airlines Evaluate Flight Cancellations Amid Escalating US-Iran Tensions
Starmer Invites Innovators to Join Government Talent Scheme
UK Economy’s Strong Opening Quarter Shows Signs of Cooling
Harrods Seeks Court Order to Secure Al Fayed Estate for Victims
BA and Singapore Airlines Cancel Dubai Flights Amid Middle East Tensions
Trump Faces Backlash from MAGA Base Over Iran Strikes
Meta Bets $14 B on Alexandr Wang to Drive AI Ambitions
WATCH: Israeli forces show the aftermath of a massive airstrike at Iran's Isfahan nuclear site
FedEx Founder Fred Smith, ‘Heart and Soul’ of the Company, Dies at 80
Chinese Factories Shift Away from U.S. Amid Trump‑Era Tariffs
Pimco Seizes Opportunity in Japan’s Dislocated Bond Market
Labubu Doll Drives Pop Mart to Status as China’s Most Valuable Toy Maker
Global Coal Demand Defies Paris Accord Goals
We have new information and breaking details to share about what is shaping up to be a historic air campaign tonight
Six Massive Bombs Dropped on Fordow; Trump: 'A Historic Moment for the U.S., Israel, and the World'
Fordow: Deeply Buried Iranian Enrichment Site in U.S.–Israel Crosshairs
United States Conducts Precision Strikes on Iran’s Nuclear Sites
US strikes Iran nuclear sites, Trump says
Pakistan to nominate Trump for Nobel Peace Prize.
BBC Demands Perplexity AI Immediately Stop Using Its Content
Telegram Founder: I Will Leave My Fortune to Over 100 of My Children
Political Turmoil Resurfaces in Belgium Amid Economic Concerns
Fed policymakers divided on timing of interest rate cuts
Trump signals imminent agreement with Harvard University
Inheritance tax referendum alarms Swiss billionaire community
Japan cancels bilateral security meeting amid US defence demands
AI skeptic Emily Bender warns that ‘the emperor has no clothes’
Israel Confirms Assassination of Quds Force Commander in Tehran
16 Billion Login Credentials Leaked in Unprecedented Cybersecurity Breach
Senate hearing on who was 'really running' Biden White House kicks off
Iranian Military Officers Reportedly Seek Contact with Reza Pahlavi, Signal Intent to Defect
FBI and Senate Investigate Allegations of Chinese Plot to Influence the 2020 Election in Biden’s Favor Using Fake U.S. Driver’s Licenses
Vietnam Emerges as Luxury Yacht Destination for Ultra‑Rich
Plans to Sell Dutch Embassy in Bangkok Face Local Opposition
China's Iranian Oil Imports Face Disruption Amid Escalating Middle East Tensions
Trump's $5 Million 'Trump Card' Visa Program Draws Nearly 70,000 Applicants
DGCA Finds No Major Safety Concerns in Air India's Boeing 787 Fleet
Airlines Reroute Flights Amid Expanding Middle East Conflict Zones
Elon Musk's xAI Seeks $9.3 Billion in Funding Amid AI Expansion
Trump Demands Iran's Unconditional Surrender Amid Escalating Conflict
Israeli Airstrike Targets Iranian State TV in Central Tehran
President Trump is leaving the G7 summit early and has ordered the National Security Council to the Situation Room
Taiwan Imposes Export Ban on Chips to Huawei and SMIC
Israel has just announced plans to strike Tehran again, and in response, Trump has urged people to evacuate
×