Steph Curry Sued for Bored Ape Promo in Wake of FTX Meltdown

Dec 13,2022
KingData News: On the heels of being sued for his role in promoting failed crypto exchange FTX, Golden State Warriors star Stephen Curry faces a new lawsuit for promoting the NFT series Bored Ape Yacht Club. Like in the FTX litigation, Curry’s role as both a promoter and investor could play a key role in determining his potential liability. Last Friday, two investors who purchased ApeCoin tokens sued Yuga Labs, the parent of the Bored Ape Yacht Club series, along with company executives, board members and a group of promoters. The investors hope for Adonis Real et al. v. Yuga Labs, Inc. et al. to be certified as a class action on behalf of all who purchased Yuga’s NFTs or ApeCoin tokens between Apr. 23, 2021 and now. The complaint suggests that Ape DAO board member Amy Wu, who until November led FTX Ventures (FTX’s venture capital arm), “utilized her relationships at crypto exchange FTX to recruit world champion athlete defendant Curry to solicit sales of the BAYC collection of NFTs.” None of the “celebrity endorsements” of BAYC NFTS, the complaint contends, “disclosed the underlying financial interests and relationships involved.” FTX Ventures was an investor in Yuga Labs.
This indicator broadcasts the latest NFT news in real time
40,175Follow
95,777

Recommend

More