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International Business Times
International Business Times
Business
Marvie Basilan

NBA Sued Over Promotional Deals With Collapsed Crypto Lender Voyager Digital, FTX

NBA FTX Voyager Digital Voyager Crypto Mark Cuban Lawsuit Stephen Ehrlich United States CFTC
The NBA faces a proposed class-action lawsuit over its promotional deals with Voyager Digital and FTX, both collapsed crypto firms. (Credit: GETTY IMAGES NORTH AMERICA / Jeenah Moon)

KEY POINTS

  • Plaintiffs said the NBA was 'grossly negligent' in approving crypto-related promotional deals
  • The NBA is 'liable' for damages resulting from its 'widespread promotion' of Voyager's unregistered securities, as per the lawsuit
  • The lawsuit also accused the NBA of negligence in approving the Miami Heat's FTX arena deal

The National Basketball Association (NBA) has been accused of being "grossly negligent" in relation to the NBA's marketing partnership with Voyager Digital, the defunct crypto lender that platform users said led to billions in losses.

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