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Chris Katje

Crypto Asset Class Going ‘Down In Flames,’ Steph Curry, Shaq Likely Safe In FTX Ponzi Case

FTX Steph Curry Darren Rovell Crypto Sam Bankman-Fried Tom Brady Floyd Maywear Shaquille ONeal David Ortiz DJ Khaled

Steph Curry of the Golden State Warriors celebrates after teammate Andrew Wiggins made a basket during Game Five of the 2022 NBA Finals. Curry is one of several athletes named in a class-action FTX lawsuit for promoting the cryptocurrency platform. EZRA SHOW/GETTY IMAGES

Many cryptocurrencies are on a crash-and-burn ride.

FTX, one of the world’s largest cryptocurrency platforms, filed for bankruptcy Nov. 11, making it the third crypto company this year. Along with impacting investors and users, athletes and celebrities who promoted the platform are now part of a class-action lawsuit, which claims investors sustained $11 billion in damages.

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