Stephen Curry and Tom Brady amongst high profile celebrities whose promotion of FTX is being investigated by Texas regulator

Stephen Curry and Tom Brady are some of the many high-profile celebrities who are under the radar for promoting the Crypto-Currency Exchange Company, FTX. Everyone who endorsed FTX and has themselves listed in a class-action lawsuit filed recently is going to suffer. As the founder and former CEO of FTX, Samuel Bankman-Fried is under investigation for fraud. Stephen Curry and Tom Brady are some of the many high-profile celebrities who are making headlines for the investigation.

Crypto-Currency Exchange Company, FTX last week declared bankruptcy and while eating up billions of dollars customers invested via them also lost all of its signings. The company collapsed on November 11, 2022, and now the Texas State Securities Board is examining the whole case properly. FTX already had the board’s eyes on it since last month with doubt about them for handing out unregistered securities.

As said, many celebrities are a part of this investigation and Stephen Curry and Tom Brady are topping that list at the moment. So far, they haven’t made any major announcements or sent out a statement for it. But with the investigation going further on FTX’s multi-billion fraud. We may soon hear from Stephen Curry, Tom Brady, or any other celebrity involved.

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Texas State Securities Board’s Enforcement Director’s take on celebrities like Stephen Curry, Tom Brady’s endorsements with FTX

Texas State Securities Board’s Enforcement Director, Joe Rotunda speaking about the endorsements and promotions of FTX by celebrities like Stephen Curry and others said: “Anyone who renders investment advice in Texas typically needs to be registered and they typically have to truthfully disclose all known material facts… In Texas, there is not a different system of justice or regulation for people who are celebrities.”

Further Joe Rotunda added: “It’s important from a securities regulation standpoint, and from a bankruptcy standpoint, to determine the ways FTX was encouraging clients and Texans to use FTX and invest with FTX.” Here he explained how it’s necessary to find out the ways used to promote the platform which has now declared bankruptcy while holding billions of dollars.

Right now the real focus of the investigation is to find out how a $32 Billion company went to zero almost overnight as said by the Enforcement Director. But even celebrities like Stephen Curry and Tom Brady are being investigated regarding their agreements, scripts, films, shoots and everything which connected them with FTX.

They aren’t the ones to be blamed or at fault but them promoting the Crypto-Currency Exchange Company somewhere has them accountable for the loss too. Maybe now they’ll have to pay a price for it but nothing can be said, claim or predicted right now as the investigation is still on with regular updates being made.

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