The lawsuit alleges that several social media influencers, including Bitboy, solicited the sale of unregistered securities in promoting FTX.
Highlights
- A class action lawsuit seeks over $1 billion in damages against multiple internet influencers.
- The lawsuit alleges the content creators pushed unregistered securities on their viewers and followers while promoting the collapsed cryptocurrency exchange FTX.
- FTX, once one of the largest cryptocurrency exchanges, collapsed last November after a run on the exchange was triggered by a steep drop in its native token FTT.
- The defendants named in the lawsuit are responsible for damages due to “misrepresentations and omissions regarding the FTX platform” and played a crucial role in elevating the collapsed business, the lawsuit claims.
- The plaintiffs include residents of the United Kingdom, Canada, and Australia as well.
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