Tom Brady, Gisele Bündchen.Photo: George Pimentel/Getty
Tom Bradyand ex-wifeGisele Bündchenare among a roster of celebrities who have been named as defendants in a class-action lawsuit against the bankrupt crypto-currency company FTX.
A rep for Brady and Bündchen did not immediately return PEOPLE’s request for a comment.
Along with relying on celebrity testimonials, the company also had the naming rights to the FTX Arena in Miami.
A representative for the Miami Heattold ESPNlast Friday that signage would be removed from the arena in the near future.
“The reports about FTX and its affiliates are extremely disappointing,” the county and team said in a joint statement. “Miami-Dade County and the Miami HEAT are immediately taking action to terminate our business relationships with FTX. We will be working together to find a new naming rights partner for the arena.”
FTX also had previous sponsorship deals with the Golden State Warriors and the Washington Wizards, in addition to naming rights to a Formula One racing team, per ESPN.
Celebrity endorsements for emerging crypto companies have not been without controversy.
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The SEC announced the charges on Oct. 3 inan official release, and stated that SKIMS founder, 42, “agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the Commission’s ongoing investigation” without admitting or denying the SEC’s findings.
SEC Chair Gary Gensler said in a statement that Kardashian’s case “is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn’t mean that those investment products are right for all investors.”
“We encourage investors to consider an investment’s potential risks and opportunities in light of their own financial goals,” he said.
source: people.com
