Kaplan Fox Continues Its Investigation Regarding Cryptocurrency Firm FTX

NEW YORK, Nov. 23, 2022 (GLOBE NEWSWIRE) — Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is continuing its investigation of potential claims concerning the crypto exchange platform FTX Trading LTD d/b/a FTX, FTX US, their founder and CEO Sam Bankman-Fried, and Alameda Research, a related party cryptocurrency trading firm.

If you have been affected by the recent revelations concerning FTX and would like to discuss our investigation, please contact us by emailing [email protected] or by calling (212) 329-8571.

On November 22, 2022, Reuters reported that “Crypto exchange FTX was on the radar of federal prosecutors in Manhattan months before its collapse, Bloomberg News reported on Monday citing people familiar with the investigation. The U.S. Attorney’s Office for the Southern District of New York spent months working on a sweeping examination of cryptocurrency platforms that have U.S. and offshore arms including FTX’s massive exchange operations, the report added.”

On November 23, 2022, Bloomberg News published an article titled “From Tom Brady to Shaq, FTX’s Celebrity Promoters May Be On the Hook for Damages” that stated that at “least three lawsuits have been filed since FTX’s implosion, including one that seeks to represent ‘thousands, if not millions, of consumers nationwide.’ Tom Brady, Gisele Bundchen, Stephen Curry, Shaquille O’Neal and businessman and TV personality Kevin O’Leary are also among the defendants. . . FTX’s sudden collapse cost US investors more than $11 billion, according to the Miami lawsuit filed Nov. 15. The platform, with 5 million users worldwide, traded more than $700 billion of crypto last year. ‘The celebrities’ liability hinges mainly on whether the products they promoted are securities,’ . . . said Shane Seppinni, who represents people suing over alleged corporate abuse and who isn’t involved in the FTX cases. If FTX’s yield-bearing accounts, which pay interest on crypto holdings, are found to be securities, ‘then the celebrities who promoted them could be on the hook for big damages,’ he said.”

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

WHY CONTACT KAPLAN FOX – Kaplan Fox is a leading national law firm focusing on complex litigation with offices in New York, Oakland, Los Angeles, Chicago and New Jersey. With over 50 years of experience in complex litigation, Kaplan Fox offers the professional experience and track record that clients demand. Through prosecuting cases on the federal and state levels, Kaplan Fox has successfully shaped the law through winning many important decisions on behalf of our clients. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.

If you have any questions about this investigation, please contact:

Jeffrey P. Campisi
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(212) 329-8571
E-mail: [email protected]

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4704
Fax: (415) 772-4707
E-mail: [email protected]

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