Judge Considers Dismissing Shaquille ONeal and Naomi Osaka from FTX Lawsuit

In recent news, a federal judge in Florida, United States, is considering dismissing former NBA superstar Shaquille O’Neal and tennis athlete Naomi Osaka from the FTX lawsuit. The judge pointed out that it is unclear whether the two sports stars have been served, and instructed the plaintiffs to provide cause as to why O’Neal and Osaka should not be dismissed from the suit. The judge gave the FTX customers until December to show cause.

In another order issued on March 9, U.S. District Judge Kevin Moore reprimanded other celebrity defendants, including Tom Brady, Gisele Bündchen, Kevin O’Leary, David Ortiz, and Trevor Lawrence, for not following proper procedure in requesting a time extension for a scheduled conference. The judge clarified that the request should have come from the plaintiff’s side, and instructed the conference to proceed as scheduled, or for the plaintiff to move for an extension of time to hold the conference.

As cases against FTX continue to pile up, some plaintiffs have requested the consolidation of lawsuits against the bankrupt exchange. However, on March 8, U.S. District Judge Jacqueline Corley denied the consolidation request, highlighting that the defendants have not yet been allowed to respond. This means that the lawsuits will proceed separately for now.

On the same day, lawyers representing former FTX CEO Sam Bankman-Fried noted that it might be necessary to push back the criminal trial scheduled to start in October 2023. While the lawyers did not formally request a date change, they pointed out that it may be needed because they are still waiting for evidence to be turned over, and Bankman-Fried accumulated more charges in February.

The FTX lawsuit was filed by customers who claimed that the cryptocurrency exchange had been involved in illegal market manipulation and trading practices that caused them financial harm. FTX has denied the allegations and filed a motion to dismiss the lawsuit. The case is still ongoing, with multiple parties involved in the proceedings.

Overall, the FTX lawsuit continues to be a complex and evolving legal matter, with various parties involved in the proceedings. The recent developments highlight the need for proper procedure and adherence to court orders, as well as the potential for further delays in the criminal trial involving former FTX CEO Sam Bankman-Fried. It remains to be seen how the case will unfold in the coming months.


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Tom Brady, Gisele Bündchen Back FTX Exchange

Key Takeaways

  • Tom Brady and Gisele Bündchen will become stakeholders in the cryptocurrency exchange FTX.
  • Brady has been particularly vocal about his interest in crypto, recently adopting the laser eyes trend for his Twitter profile picture.
  • FTX has engaged in several major partnerships in recent months as the firm attempts to break into the mainstream.

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American football superstar Tom Brady and his supermodel partner Gisele Bündchen have taken an equity stake in the cryptocurrency exchange FTX.

FTX Targeting Explosive Growth

Tom Brady and Gisele Bündchen are backing FTX.

Both celebrities have taken an equity stake in the company as the crypto-native firm secures another long-term partnership. FTX has not disclosed the amount of equity the celebrity couple is receiving from the arrangement but has described Brady as an ambassador for the brand, while Bündchen joins as the firm’s environmental and social initiatives adviser.

In an interview with Bloomberg, FTX CEO Sam Bankman-Fried said the partnership was a no-brainer as they were “both really into it.” He added that Brady and Bündchen “are both legends, and they both reached the pinnacle of what they do. When we think about what FTX represents, we want to be the best product that is out there.”

Brady has been particularly vocal about his interest in digital assets in recent months, adding Bitcoin laser eyes to his Twitter avatar. The football star removed the laser eyes Monday, noting that the leading cryptocurrency has experienced a sustained dip since he changed his Twitter picture.

FTX is multiplying landmark partnerships and sponsorship deals, most recently a five-year deal with Major League Baseball, the first official partnership between a professional sports league and a crypto brand. Before that, the exchange signed a $135 million 19-year deal to sponsor the NBA team Miami Heat.

The exchange has also concluded a 10-year deal worth $210 million with Team SoloMid, one of the most successful esports teams in the world. With the increased efforts to engage in sponsorships and marketing opportunities, it seems that FTX has plans to become a mainstream name across many different demographics.

Disclaimer: The author held ETH at the time of writing.

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