News - FTX: These stars and sports clubs received money from the crypto exchange

By Mike Hesp

FTX: These stars and sports clubs received money from the crypto exchange

FTX

Insolvent crypto exchange FTX is now trying to recover some of the money it once paid to companies and faces of celebrities for marketing campaigns. These names are on the list.

At its peak, the bankrupt crypto exchange FTX spent countless millions of US dollars on sponsorships, promotions and other marketing. Now a court document from the Delaware Bankruptcy Court of Aug. 31 became public, listing the names of the recipients of the money.

Among the best-known names are: former NBA basketball pro Shaquille O'Neal (about US$750,000), tennis star Naomi Osaka (about US$308,000), Jacksonville Jaguars quarterback Trevor Lawrence (about US$206,000) and former Boston Red Sox player David Ortiz (about US$271,000).

Payments have also been made to entire sports teams. For example, to the professional basketball teams Golden State Warriors (about US$420,000) and the Miami Heat (about US$250,000).

Some of these celebrities have already been sued by creditors for their involvement in advertising campaigns for FTX. Both O'Neal and Osaka appeared in a class action lawsuit filed in Florida federal court in May.

The lawsuit accuses them of illegally promoting interest-bearing accounts that were in fact classified as unregistered securities.

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