Celebrities Tom Brady and Steph Curry Face New FTX Probe
State authorities in Texas are investigating celebrity athletes associated with FTX for their involvement with the failed exchange. The Texas State Securities Board announced the launch of a probe to determine if celebrity endorsements of FTX violated securities laws. The authorities are targeting star athletes Tom Brady and Steph Curry, among others who promoted the cryptocurrency exchange. Last year, Brady, his then wife Gisele Bündchen, as well as Curry and other sports stars signed deals with FTX. In exchange for equity share in the company, these celebrities became global ambassadors for the brand. Several appeared in commercials promoting the exchanges ease of use and trustworthiness. With the collapse of the exchange these endorsement deals fell through, but these celebrities have also lost their credibility. State Securities Violations Last week, Curry, Brady and Bündchen were among the defendants named in a demanda colectiva against Sam Bankman-Fried. The lawsuit filed in Florida claims that Bankman-Fried violated securities laws by using celebrity endorsement to target “unsophisticated investors.” Authorities in Texas said they had started cooperating with other state securities regulators on the issue of these celebrity endorsements. They said that other state regulators could announce parallel investigations in the coming weeks or months. One fuente intimated that federal intervention