The probe is part of the state’s wider investigation into FTX’s multibillion-dollar bankruptcy.
It also comes amid a class-action lawsuit filed in Florida against Curry, Brady and other celebrities — mostly high-profile athletes — which alleges that FTX had used their endorsements as part of a scheme designed to take advantage of "unsophisticated investors." It also names FTX’s former CEO Sam Bankman-Fried.
It’s currently unclear if any prominent Texan would be investigated, but Rotunda said his team is still compiling a list of relevant parties based on recent court filings by FTX’s current CEO John J. Ray III and the class-action lawsuit. In particular, it will be looking at what the promoters disclosed, how they were compensated and how their promotions were scripted and filmed.
"That’s a far cry from social media and broadcast advertisements, let alone tokens and blockchains, right?" Rotunda said.They are not the first celebrities to have been scrutinized or penalized for promoting crypto. Last month, Kim Kardashian agreed to pay the Securities and Exchange Commission, the federal securities regulator, $1.26 million to settle allegations that she had hyped a crypto token on Instagram without informing the public that she received $250,000 for the post.
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