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The Texas Tribune
The Texas Tribune
National
Alex Nguyen

Tom Brady, Steph Curry and other celebrities face Texas investigation for endorsements of bankrupt crypto firm

FTX Crypto Texas Brady Curry Joe Rotunda
The logo of FTX at the entrance of the FTX Arena in Miami, Florida on Nov. 12, 2022.
The logo of FTX at the entrance of the FTX Arena in Miami on Nov. 12, 2022. The bankrupt crypto exchange is currently facing numerous state, federal and international investigations. (Credit: REUTERS/Marco Bello)

Texas is investigating celebrities who had endorsed FTX, the now bankrupt cryptocurrency firm, for potentially violating state securities laws.

The Texas State Securities Board started looking into FTX’s operations last month over whether the exchange’s yield-bearing crypto accounts were providing residents with unregistered securities. Since the company’s collapse on Nov. 11, the board has significantly expanded its probe to examine the impact of this multibillion-dollar bankruptcy.

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