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NBA Team Golden State Warriors Faces Lawsuit For Promoting FTX as a Safe Platform

An FTX user is suing NBA team Golden State Warriors, accusing them of fraudulently promoting the FTX exchange after losing $750,000 due to the platform’s collapse.

The plaintiff Elliot Lam, filed a class action lawsuit in San Francisco against Sam Bankman-Fried (SBF), former CEO of FTX, Caroline Ellison, CEO of SBF’s trading firm Alameda Research and the Golden State Warriors, seeking $5 million in damages, according to Reuters, which had access to the lawsuit.

Due to the large number of fans that follow the current NBA champion, the lawsuits have not stopped coming. In addition to Lam’s, the team is facing a class action lawsuit in Miami from FTX US customers, who are suing the team and several celebrities such as quarterback Tom Brady and tennis player Naomi Osaka, among others. Warriors star player Stephen Curry is another celebrity under public scrutiny. He is being sued in Miami for promoting FTX.

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